Assets worth over 14 billion rubles seized from the former "energy king of the North Caucasus"

The Cheremushkinsky Court of Moscow, following a lawsuit by the Prosecutor General's Office of the Russian Federation, ruled to confiscate in favor of the state the property belonging to Magomed Kaitov, the former head of OAO MRSK Severnogo Kavkaza, known in the media as the "energy king of the Caucasus."

We are talking about securities of PAO Stavropolenergosbyt, JSC Stavropolskie Gorodskie Elektricheskie Seti, JSC Gorelektroset and JSC Kislovodsk Gorodskie Elektricheskie Seti, worth a total of 14.3 billion rubles.

The Prosecutor General's Office filed an anti-corruption lawsuit against Kaitov in June 2025, demanding the confiscation of assets in connection with the investigation of embezzlement in the amount of 4.27 billion rubles.

Earlier, the court seized an apartment building in Kislovodsk belonging to Kaitov. It was reported that it was illegally built in the resort city on the land of the Russian Presidential Property Management Department. Kaitov was involved in several criminal cases, in one of which he was sentenced to prison in absentia. He is currently wanted and presumably lives outside of Russia.

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