Russian potash miner Uralkali (MOEX: URKA) CEO Vladislav Baumgertner, who was arrested in Belarus a month ago, has been transferred from a State Security Committee (KGB) remand center to a rented apartment in Minsk where he was placed under house arrest, Baumgertner's Russian lawyer Alexei Basistov told Interfax.
"He is currently being held in a rented apartment in one of Minsk's districts under round-the-clock surveillance by KGB officers. Vladislav Baumgertner's mother, who arrived yesterday, was allowed to visit her son," Basistov said.
"The legal team is hopeful that Baumgertner will be permitted to return to Russia as soon as possible," he said.
The Belarusian investigators charged Baumgertner with abuse of power, an offence that may carry up to ten years in prison.
The Belarusian Investigative Committee announced on August 26 that it had uncovered a scheme to cut state-owned Belaruskali out of decision-making at Belarusian Potash Co., the trading venture that Russia's Uralkali and Belaruskali set up in 2005. Baumgertner, who is also chairman of Belarusian Potash Co., was detained at Minsk Airport. The Belarusian authorities have estimated damages and losses caused as a result of this scheme at around $100 million.
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