Georgian Energy Mogul Arrested For Fraud

Geno Malazonia, president of JSC Energy Invest

TBILISI -- Georgian police have detained the head of a major energy company on corruption charges, RFE/RL's Georgian Service reports.

Geno Malazonia, the president of JSC Energy Invest, was arrested and charged with fraud, tax evasion, and abuse of power on May 20.

The alleged criminal activity was detected during an audit, InterPress News reported.

Malazonia had previously worked as deputy education minister as well as a deputy director in the state Customs Office.

He established his company six years ago with backing from the Russian companies InterGazinvest and InterInvest aw well as Georgian business groups.

Malazonia's company also controls a nitrogen plant in Rustavi and the Gardabani gas-turbine power station.

Police continue to investigate the case and have sequestered the JSC Energy Invest offices in Tbilisi.