Prosecutors: Russia Lost $525 Mln in 2014 Due to Fraud in Defense Industry

2014/09/15

NOVO-OGARYOVO (outside Moscow), September 15 (RIA Novosti) - Russian prosecutors uncovered over 7,000 violations in activities of companies in the defense sector that led to the loss of over 20 billion rubles ($525 million) in 2014, Prosecutor General Yuri Chaika said Monday.


Chaika said during a meeting with President Vladimir Putin that over 100 defense companies have been probed since the beginning of the year, including the United Shipbuilding Corporation, United Aircraft Corporation, the Sukhoi holding, as well as their subsidiaries.


“As a result, more than 7,000 violations have been uncovered...and over 300 administrative and 131 criminal cases have been opened,” Chaika said.


“The amount of damages exceeded 20 billion rubles,” he added.



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