The company is facing serious problems with the law. Criminal proceedings were launched yesterday on huge sums allegedly embezzled, the Moscow top prosecutor's press service announced.
Alrosa received the news from media reports. The prosecutor's officers had not cared to notify it or make whatever inquiries, so the company is in no position to comment on the dramatic situation, its spokesmen said.
The name Alrosa is an abbreviation from "Almazy Rossii", Russian diamonds. The federal government holds its 37% stock. Qualified as company of strategic purport, its routine is under close monitoring of an observation council, the majority of which belongs to the biggest company stockholders. These are ministries and other central offices of the Russian Federation and its constituent entity where company mines base, the Republic of Sakha/Yakutia in East Siberia.
The company undergoes annual audits. It takes stockholders' general meeting to approve its finance accounting, proceeding from audit and inspection conclusions, Alrosa pointed out in a press release.
Capital investors in and outside Russia alike have the utmost confidence in the company which is proved by its high crediting and other ratings. Alrosa incomes and profits are steadily rising, and debts shrinking as it gets ever more prominent in the world diamond market, the release reads.
