Russia's Audit Chamber says it found no evidence of major embezzlement at the country's pipeline monopoly Transneft, following allegations by the company's minority shareholder Alexei Navalny, Audit Chamber head Sergei Stepashin said on Thursday.
Earlier this week, Navalny, a well-known critic of corporate corruption in Russia, accused former Transneft management of embezzling at least $4 billion during the construction of the East Siberia-Pacific Ocean pipeline.
In his blog, Navalny quoted Audit Chamber data, which he said was concealed by the government.
"There was no $4 billion embezzlement," Stepashin said. "There was a Transneft inspection two years ago. We sent the materials to the Interior Ministry and the Prosecutor General's Office."
ST PETERSBURG, November 18 (RIA Novosti)
