BELARUS NEWS AND ANALYSIS

DATE:

30/05/2007

Belarus oil holding co director arrested for theft, abuse of power

MINSK (Thomson Financial) - The director of Belarus oil holding company Belneftekhim has been arrested for "theft and abuse of power", said chief prosecutor Petr Miklashevich. "Alexander Borovsky is accused of theft and abuse of power," he told a press conference. According to Miklashevich, Borovsky and other company bosses have been arrested by the Belarussian KGB. A significant amount of money was also confiscated, he said. Belneftekhim comprises oil refineries, fertiliser and paint factories and potassium manufacturing. Exports for the group have reached 10 bln usd per year, representing 50 pct of total Belarus exports.

Source:

http://www.sharewatch.com/story.php?storynumber=422835