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Monday, November 25, 2013

Naval Installation Returned After Fraudulent Sale

A court has ordered the return of a strategically important naval fuel installation to the navy after it was allegedly sold off illegally by a key suspect in a massive property scam, military prosecutors said Friday.

The Northern Fleet's refueling complex in Moermansk, a vital facility that supplied fuel to naval ships, was sold last year after then-Defense Minister Anatoly Serdyukov said it was no longer a core asset for the Russian military.

The complex, including railroad sidings, fuel oil tanks, boiler houses and fuel pumping stations, was sold for almost half its market value of 455 million rubles ($14 million), prosecutors said.

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