MOSCOW, November 25 (RAPSI) - The funds allegedly embezzled from Chernomorneftegaz in Crimea totaled 845.2 mln rubles ($18.6 mln), RIA Novosti reports on Tuesday citing Pavel Tokarev, Head of the Financial Supervision Service of Crimea. Chernomorneftegaz is an oil and gas company that is a significant part of the tax base in Crimea.

The head of Crimea, Sergei Aksyonov, announced earlier that embezzlement and major unaccounted for expenses were discovered at the company which resulted in the dismissal of the former management.

“Between March and October of this year, the financial misconduct and losses amounted to 845.2 million rubles,” Tokarev said at a meeting of the Crimean government.

The company’s management allegedly concealed the possession of certain property. Specifically, there are allegedly two ships worth about 575.3 mln rubles ($12.7 mln).

“It was found that the ships are operating somewhere in Latin America. No documentation on the ships’ status has been provided so far,” Tokarev said.

The Federal Security Service continues to review the company’s financial and economic activity.

Chernomorneftegaz, a gas distributor on the peninsula, belonged to Naftogaz of Ukraine until March 17. After the referendum on Crimea’s reunification with Russia, the company was nationalized. Currently, it is a republic-run company managed by the Fuel and Energy Ministry of Crimea. The company extracted hydrocarbons in the Black Sea and Azov Sea shelves as well as on the Crimean Peninsula. It also transports natural gas via pipeline.