Jobless Russian Steals Quarter of Ammunitions Plant

An unemployed ex-shareholder of the Klimovsky Specialized Ammunitions Plant was detained on suspicion of stealing 25 percent of the company’s shares, the Russian Interior Ministry reported on Wednesday.


A 48-year-old man together with another former shareholder submitted false documents to a court and as a result they received shares worth 52 million rubles ($1.8 million).


The Interior Ministry did not release the name of either of the defendants in the case.


According to open sources, Klimovsky Specialized Ammunitions Plant was founded in 1936. After the fall of the Soviet Union, it gained the status of a joint stock company and in 2001 it was closed down and a closed joint stock company was formed on its base.


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