MOSCOW, March 15 - RAPSI. The head of a utility management company in Arkhangelsk in northern Russia has been charged with 250 million ruble ($8.1 million) bankruptcy fraud, the Interior Ministry announced on Friday.

The police have established that the acting director of a company which managed 158 residential blocks in Arkhangelsk did not transfer payments collected from residents to the heat provider for four months, accumulating a debt of 100 million rubles ($3.25 million).

"Seeking to bankrupt the company and to take over its assets, the persons involved moved these houses from their company's management to the management of new companies, which they had established and registered with the Federal Tax Service," the ministry said in a statement.

Their actions resulted in the company's bankruptcy.

"According to the register of the company's creditors, its debts total around 250 million rubles, including over 100 million rubles of delayed payments to heat providers and 128 million rubles in unpaid tax," the statement says.