MOSCOW, August 20 (RAPSI) – Sergey Podolny, ex-deputy CEO of Gazprom Mezhregiongaz Omsk, a subsidiary of Russia’s oil giant Gazprom, has been sentenced to 5 years in prison for embezzling over 200 million rubles ($3 million), the Investigative Committee’s press service reports Monday.

Additionally, Podolny has been fined 500,000 rubles ($7,500).

One more defendant in the case Alena Babiy has received 3.5 years in prison and a 300,000-ruble fine ($4,500).

According to investigators, Podolny and Babiy have conspired to embezzle funds of the Omsk Technical Carbon Plant (Omsktechuglerod) being aware of gas supplies economic relations between the company and Gazprom Mezhregiongaz Omsk. They have introduced Technical Carbon and GazNeftTrading, straw companies controlled by Babiy and not conducting financial and business operations, into direct gas supply chains.

Thus, from 2011 to 2014, the supplied gas was distributed to the Omsk Technical Carbon Plant at value far exceeding a transfer price.

The defendants cashed out stolen money through banks and shell companies, the statement reads.