Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

$85M Embezzled in North Caucasus in 2011

About 2.5 billion rubles ($85 million) of state funds were embezzled in the North Caucasus Federal District in 2011, the region's Prosecutor General Artyom Melnikov said Friday, Interfax reported.

Only 69 million rubles were returned, Melnikov said. He noted that the amount stolen had increased since 2010 but could not provide the exact amount it had gone up.

"The North Caucasus republics are highly subsidized regions that receive a sizable amount of federal funds every year. Just in 2011, they amounted to almost 270 billion rubles," he told journalists.

"These funds are the subject of constant scrutiny by criminal organizations, including militants who look for contact with officials who have a say in how the funds are used," he said.

On Thursday, the head of Ingushetia's pension fund and three other pension fund officials were arrested on suspicion of having stolen 117 million rubles from a fund for mothers with more than one child.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

paiment methods
Not ready to support today?
Remind me later.

Read more