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

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Montenegrin court seizes passports of opposition leaders accused of coup attempt

Montenegro’s high court has seized the passports of two opposition leaders accused of plotting a coup as a precautionary measure. Andrija Mandic and Milan Knezevic – two of the leaders of the ... more

Russians continue to holiday in Montenegro despite warnings from Russian foreign ministry

The summer tourism season in Montenegro started earlier than expected and indicates that this year the revenue will exceed €1bn – the ... more

Dismiss