MOSCOW, June 3 (RAPSI, Maria Petrova) - Moscow's Tverskoy District Court extended until August 2 the arrest of Alexeid Tabolkin, Deputy General Director of Russian integrated circuit manufacturer Angstrem, as well as its former Chief Financial Officer Nikolai Pereverzev on suspicion of the embezzlement of 75.5 million rubles ($2.4 million), the court's press secretary told RAPSI Monday.

The two men were detained in April.

The police earlier said that the suspects signed contracts with companies to design and assemble communication stations in Russia. The suspects used the scheme to transfer around 75.5 million rubles to the settlement accounts of fly-by-night companies. Documents exposing their crime were found during searches of their offices.

However, Angstrem said in an official statement that Tabolkin and Pereverzev did not damage the company financially and there are no grounds for opening a criminal case against them or for keeping them in detention.

The company's representatives said that contracts were signed with contractors and advance payments were transferred to them in September 2011 for designing and assembling communication stations in Russia.

However, the contracts were terminated in October 2011 and the funds were returned to Angstrem's accounts. Later that year, the company signed contracts with other firms to do the same work, which had already been completed.

Angstrem says on its website that it is the main designer and provider of special electronic components and microchips for strategic Russian industries, including defense and space exploration.