Former top manager of Russian auto plant acquitted of fraud
MOSCOW, August 7 (RAPSI) – A court in Yekaterinburg has acquitted ex-head of the Automobiles and Motors of the Urals factory (AMUR) Pavel Chernavin of fraud and illegal obtaining of credit, the court’s press office told RAPSI on Monday.
A criminal case has been opened against Chernavin over unfounded note issue in the amount of nearly 1.2 billion rubles (around $20 million). Moreover, between 2007 and 2008, AMUR ex-manager submitted forged financial documents to a bank for receiving a loan, investigators claimed. As a result, the plant obtained about $12.5 million; however, the borrowed funds have not been returned.
AMUR factory has been declared bankrupt.