MOSCOW, November 3 (RAPSI) - The Sverdlovsk Regional Court on Friday upheld a lower court’s ruling to acquit 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 service told RAPSI.
The court has dismissed an appeal filed by prosecutors against the acquittal. The ruling therefore has become effective.
Chernavin was acquitted in August.
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.