Businessman Vital Arbuzau released on ‘personal guarantee’

Story of Arbuzau’s arrest. 13 April 2017

Vital Arbuzau, Chairman of the Fenox Global Group Board, has been released. learned about the release from two sources.

“He was released on Friday night. The measure of restraint was changed to a personal guarantee,” said the source from Arbuzau’s circle.

The personal guarantee means that Arbuzau, while at large, will not hide from the investigation and the court, will not hinder the investigation of the case or its consideration by the court and will not engage in criminal activities.

Why businessman Arbuzau was detained

Vital Arbuzau was detained last April. He is suspected of committing unlawful activities related to tax evasion since 2010, as well as illegitimate receipt of VAT from the budget. In particular, the SCC reports, Belarusian enterprises controlled by Arbuzau overestimated the cost of imported products, which allowed them to increase expenses and reduce the tax base. Secondly, by selling goods in cash in Belarus, Russia, and Ukraine, enterprises controlled by the businessman issued documents for exporting goods at a low price, which allowed not only to understate revenues, but also to return VAT from the budget. Purchased goods were also sold to large industrial enterprises in Belarus: MAZ, MZKT, Peleng, as well as in Russia, which subsequently influenced the cost of manufactured products.

“Fenox Global Group” is engaged in the production of brake bridges for “Audi”, as well as “Volkswagen” and “Fiat”. More than 7 thousand people were employed in the Belarusian, Russian, German and Singaporean branches of the company at the time of the businessman’s arrest.

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