Authorities confiscate assets of former Karachay-Cherkessia prime minister worth more than 40 billion rubles

A Moscow court has ruled that businessman Vladimir Kayshev, former prime minister of Karachay-Cherkessia, has had his property seized worth 41.9 billion rubles.

Key assets have been transferred to state ownership, including a dairy plant in Pyatigorsk, a company managing a local hippodrome, the agricultural firm “Selo im G.V. Kayshev”, as well as real estate and vehicles in Stavropol Krai and Moscow Oblast.

Kayshev, who is in pretrial detention, is accused of a number of crimes, including illegal acquisition of land, theft of natural gas worth 142 million rubles, extortion of a share in a mineral water bottling enterprise worth 1.1 billion rubles, and theft of budget funds during the supply of counterfeit dairy products.

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