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Defense Ministry scandal damages exceed $216 million

13:15 28/11/2012

MOSCOW, November 28 - RAPSI. The damages in the criminal cases concerning Oboronservis holding company have exceeded 6.7 billion rubles ($216.5 million), Investigative Committee spokesman Alexander Sorochkin said.

"More than 740 million rubles ($23.9 million) in funds, as well as valuable assets worth over one billion rubles ($32.3 million) were seized as part of Oboronservis' case. If you take into account all the cases, the established amount of losses incurred has exceeded 6.7 billion rubles ($216.5). We have not seen figures as high as these before," Sorochkin said at a news conference on Wednesday.

It was announced in October that five fraud cases had been initiated on the sale of property, land and shares belonging to Oboronservis. The losses involved were originally thought to be in excess of 3 billion rubles ($96.9 million).

Oboronservis comprises service companies involved in armaments and military vehicle repair and maintenance, construction materials and food production, power facilities operation, cartography and printing goods production, as well as housing services for military towns.

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Defense Ministry scandal damages exceed $216 million

13:15 28/11/2012 The damages in the criminal cases concerning Oboronservis holding company have exceeded 6.7 billion rubles ($216.5 million).
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