MOSCOW, March 22 (RAPSI) – Sergey Ivanets, rector of the Russian Far Eastern Federal University (FEFU) suspected of abuse of power that caused damage worth 20 million rubles ($290,700), has been placed under house arrest for two months upon a court order, RIA Novosti reported on Tuesday.

According to investigators, in 2011, the university signed a contract with the company Modern University for technical and information system implementation valued at 647 million rubles ($9.4 million). The services had to be rendered in a few years; the final stage was planned to be completed in 2013.

“From August 20 till September 11, 2015, Ivanets ordered two pro-rectors, Aleksei Tskhe and Victor Atamanyuk, to provide processing and signing of the certificates of services rendered at the third stage. On September 15, he ordered a chief accountant to transfer under these certificates over 20 million rubles to the contractor’s account,” Investigative Committee spokesman Vladimir Markin said earlier.

Ivanets could face up to 10 years in prison if convicted.

Previously, Ivanets served as Deputy Minister of Education and Science and supervised Russia’s Far Eastern Federal District.