MOSCOW. Aug 8 (Interfax) - Investigators in Russia's North Caucasus have opened a criminal inquiry on counts of large-scale fraud against Vitaly Totrov, general director of the Zaramag hydroelectric power plant, which is a subsidiary of Russian hydroelectric company RusHydro (RTS:HYDR).
Investigators accuse Totrov of securing illegal reimbursements of VAT from the federal budget valued at more than 800 million rubles from February to July 2011, the Interior Ministry's North Caucasus branch said in a press release.
Accounting reports and other documents relevant to the inquiry were confiscated during recent searches. Totrov was detained.