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Russian Court Orders Quadra's Chief To Remain In Custody For 2 Months

A Russian court has ordered that the chairman of the Quadra power company be held in custody for two months.

Moscow's Basmanny court issued the ruling on June 23, a day after Yevgeny Dod was detained on suspicion of awarding himself an excess bonus, worth 73 million rubles ($1.1 million) when he headed state power generator Rushydro.

A criminal case was also opened against Rushydro's chief accountant, Dmitry Finkel, who was also ordered to remain in custody until August 22.

Dod, a longtime ally of President Vladimir Putin, was dismissed from his post at Rushydro in 2015 but was appointed as chairman of the Quadra power company in March.

Quadra is controlled by Russian billionaire Mikhail Prokhorov, whose businesses have come under intense official scrutiny in recent weeks.

Based on reporting by Reuters, Interfax, and TASS

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