Crystal PAO

History

2024: Beneficiary arrest

On September 24, 2024, it became known about the arrest of the beneficiary of Crystal PJSC (Vladikavkaz, North Ossetia), specializing in the production of metal, including for the electronic industry. According to law enforcement agencies, the arrest was made as part of an investigation into a fraud case initiated under Part 4 of Article 159 of the Criminal Code of the Russian Federation. The Leninsky District Court of Vladikavkaz decided to detain the beneficiary on August 17, 2024 for one month, and on September 11, 2024, the arrest was extended for another month.

According to Interfax, a criminal case was initiated against the management of the enterprise after identifying violations when using a subsidy allocated to the plant in 2023. The funds of ₽19,658 million were intended to reimburse the cost of purchasing new equipment. Although the plant confirmed the targeted use of the allocated subsidy, during the audit of the submitted documents, violations were revealed, in connection with which the Ministry of Industry of North Ossetia sent a notification to the company about the return of funds.

source = PAO Crystal

In early September 2024, the Kristall plant fully returned the received amount of the subsidy to the budget, which made it possible to avoid damage to public funds. Despite this, the initiated criminal case continues to be investigated, and the beneficiary of the enterprise remains in custody. Official representatives of the FSB of Russia in North Ossetia confirmed the fact of initiating a criminal case against the plant's management.

In 2024, the company changed its management twice. In August 2024, Valery Vladimirov was appointed General Director, replacing Georgy Byazrov, who served as interim from June to August 2024. Before Byazrov, the plant was managed by Vadims Blinovs, a citizen Latvia who headed the enterprise from August 2023 to July 2024.^[1]

Notes