Former CEO of GruzRosEnergo Georgi Sheradze and his deputy Shota Maisuradze were arrested in Tbilisi on a charge of significant misappropriation.

Company officials are accused of misappropriating one third of the sum (USD 4,5 million) allocated to reconstruction of high voltage transmission line, connecting Armenian and Georgian energy systems.

As a result of misappropriation, 500 KW cable to be laid during reconstruction was replaced with a lower quality one. Legislative authorities consider the fact as a significant damage to the state, Lenta.ru reported.