MOSCOW, September 11 (RAPSI) – Businessman Alexander Rodionov involved in the case over embezzling funds allocated for construction and reconstruction of the presidential residence in Novo-Ogaryevo (Moscow region) has pleaded guilty, RAPSI reports from Moscow’s Basmanny District Court.

On Monday, the court released Rodionov from detention and placed him under house arrest until November 21.

Earlier, Rodionov along with the state-run company Atecks’ ex-chief Andrey Kaminov denied involvement in the crime.

Russia’s Investigative Committee has initiated and is currently investigating a criminal case against a criminal gang over large-scale embezzlement of state funds allocated for the execution of various construction projects of federal importance. Damage caused by the criminal is estimated at around 225 million rubles (about $4 million), according to investigators.

Defendants in the case are Rodionov, Kaminov, Atecks’ former first deputy director Stanislav Kyuner, ex-head of Stroyfasad contractor Sergey Litvinov, head of another contractor firm Dmitry Torchinsky and businessman Sergey Perevalov.