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Malazonia is accused of inflicting GEL 70 mln harm to budget2010-05-20 16:00
Geno Malazonia, the President and CEO of Energy Invest, is accused of tax reticence, illegal business activities, fraud, abuse of power. The estimated damage to state budget amounts GEL 70 mln [about USD 42 mln] - Georgia Times correspondent.gt-en-newsitem-inside
At the present moment Malazonia is arrested, this morning his deputy Koba Dimitrashvili was taken to interrogation, his whereabouts are unknown, no information about his possible arrest.
Malazonia was arrested yesterday, his office sealed, enterprise was visited by law enforcement officers but didn't stop its work.
Energy Invest is one of the biggest investment companies in Georgia; founded in 2004 to lure in large financial resources and investment programs. The founders are big business groups from Russia and Georgia.
In 2005 Energy Invest purchased a chemical plant in Rustavi and finished the construction of gas-turbine power station in Gardabani.
It's the only enterprise in Caucasus manufacturing ammonium nitrate. It also exports it in a number of countries.