Russia space agency official held over multi-million euro fraud

Top Roscosmos Official Arrested for Large-Scale Fraud Involving Millions of Euros

by AFP Staff Writers

Moscow (AFP) Dec 22, 2023

Police authorities have apprehended the deputy director of Russia’s space agency, Roscosmos, in connection with an alleged embezzlement scheme involving a staggering 4.3 million euros from the crisis-ridden sector.

Oleg Frolov, along with two other individuals, faces charges of orchestrating a large-scale fraud, according to a statement released by the Russian investigative committee responsible for handling major criminal investigations.

“The statement further highlighted that Frolov, leveraging his official position, conspired with the two other co-conspirators,” the report stated.

The statement also revealed, “During the execution of the contract, they illicitly misappropriated funds allocated for the purchase of equipment.”

Pending his trial, Frolov will remain in custody, as specified in the statement.

Once a source of immense national pride, Roscosmos has been grappling with financial difficulties for several years, compounded by a series of corruption scandals and embarrassing technical failures. One such failure included the loss of the Luna-25 probe in August.

Despite these setbacks, Russia is steadfast in its plans to develop its own space station, which will replace its aging section of the International Space Station (ISS). Additionally, the country aims to revive its moon program.

Related Links

Stay Updated with the Latest Commercial Satellite Industry Developments

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *