MOSCOW, March 6 (RAPSI) – A court has detained director of Stroy Group construction company Pavel Babayev and his advisor Pavel Loboda as part of a 3 billion-ruble (about $44.5 million) embezzlement case, the Investigative Committee’s press service reports.

According to investigators, from 2015 to 2019, the management of the company when executing 11 agreements stipulated by a state defense industrial complex program stole about 3 billion rubles by transferring the funds to accounts of the affiliated companies based on fictious contracts.

A criminal case is opened based on the Federal Security Service’s materials. Investigation is ongoing.