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Over $2.9 million stolen during APEC preparations

16:44 08/11/2012

MOSCOW, November 8 - RAPSI. The Russian Interior Ministry revealed on Thursday that more than 93 million rubles ($2.9 million) had been embezzled during preparations for the Asia-Pacific Economic Cooperation (APEC) forum in Vladivostok.

"The Interior Ministry's economic and anti-corruption department revealed that over $2.9 million was misappropriated from budget funds that were allocated to prepare and hold the APEC summit," the press release reads.

A criminal case based on fraud charges, which carries a prison sentence of up to ten years, has been initiated. No suspects have been listed in the case so far.

There were earlier unconfirmed reports that the Regional Development Ministry's Moscow department and the ministry's far-eastern directorate office in Vladivostok were searched. The Primorye Territory's police confirmed that it is checking into possible violations committed during the construction of APEC-2012 facilities without specifying any details.

The heads of 21 APEC economies met in Vladivostok for two days of talks in September as part of the forum's annual summit, which took place in Russia for the first time.

The next summit will be held in Indonesia.

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Over $2.9 million stolen during APEC preparations

16:44 08/11/2012 The Russian Interior Ministry revealed on Thursday that more than 93 million rubles ($2.9 million) had been embezzled during preparations for the Asia-Pacific Economic Cooperation (APEC) forum in Vladivostok.
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