Russian defense firm ex-CEO arrested over $160mln fraudApril 10, 2013 - 23:38 AMT PanARMENIAN.Net - Vladimir Grodetsky, former CEO of arms manufacturer Izhevsk Mechanical Works (Izhmash), has been arrested on suspicion of being involved in a 5-billion-ruble (about $160 million) fraud scheme, the Russian Interior Ministry said on Wednesday, April 10, according to RIA Novosti. The ministry did not provide any further details. The ministry earlier confirmed to RIA Novosti that Grodetsky was detained on fraud charges. Grodetsky was dismissed from the post of Izhmash CEO in May 2011. Russia’s defense sector has been rocked over the past few months by a string of corruption scandals that led to the sacking in November of Defense Minister Anatoly Serdyukov. Several people employed by the Oboronservisdefense property services company were arrested late last year on suspicion of fraud totaling over 13 billion rubles ($430 million) involving the illegal sale of ministry property. The Russian Federal Defense Contracts Service said last month that about 1,500 violations and infractions were uncovered in state defense spending in 2012, involving over 16 billion rubles ($533 million). Over 2 billion rubles was returned to state coffers and over 3.5 billion rubles’ worth of damage was averted last year, the service said. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | International cybercrime ringleaders arrested in Armenia, Ukraine Europol, Europe's crime agency, has arrested four ringleaders of several cybercrime networks that used botnets. Armenia skips CSTO Defense Ministers meeting A meeting of the Council of Defense Ministers of the Collective Security Treaty Organization countries began in Almaty. Armenian, Iranian foreigh policy chief talk over the phone The Foreign Minister of Armenia once again expressed condolences to his counterpart on the death of the President of Iran. Armenia, U.S. customs authorities to boost assistance with new deal The government has approved an agreement with the U.S. government on mutual assistance between the customs authorities. |