Montenegrin court releases on bail aluminium firm KAP's CFO

By bne IntelliNews July 18, 2013

Russia's En+ Group said it is pleased with the fact that Montenegro has released from custody the financial director of aluminium firm KAP, Russian citizen Dmitry Potroubatch, news agency Mina-Business reported on July 18.

Potroubatch was released on July 17 after En+ paid a EUR 100,000 bail. He was arrested on July 11 over suspicions he is responsible for an electricity theft worth EUR 9.6mn made for the needs of KAP from the European interconnectors earlier this year.

En+ Group, which owns a minority stake in KAP and used to be in charge of its management before the firm entered insolvency on July 8, told Mina-Business they believes the charges against Potroubatch are completely unfounded.

Potroubatch was due to spend 30 days in the arrest but the basic court in Podgorica approved En+ Group's appeal, letting him free on the bail.

Related Articles

Freedom House keeps “partly free” status for Macedonia despite new government’s efforts

Macedonia was rated only “partly free” in the latest report from international watchdog Freedom House, the same almost all of the six Western Balkan countries, despite efforts by the ... more

Milo Djukanovic leads poll ahead of Montenegro’s presidential election

Veteran politician Milo Djukanovic has the highest chance of becoming Montenegro’s next president in the 2018 ... more

Veteran Montenegrin politician Milo Djukanovic to run for president in 2018

Montenegro’s ruling Democratic Party of Socialists (DPS) will most likely propose its veteran leader, former president and prime minister Milo Djukanovic, to ... more

Dismiss