Fraud during works at Saint Petersburg Conservatory probed

7th February 2011, Comments 0 comments

Authorities have launched a criminal investigation after 6.3 million rubles (157,000 euros) was embezzled during renovation of the Saint Petersburg Conservatory, investigators said Monday.

The Conservatory signed a contract in April with private Russian firm OlimpStroi for repair work on the roofs of the building and paid 6.7 million rubles for the project, the local investigators' committee said in a statement.

But an internal investigation showed that only 400,000 rubles was actually spent for the work and that the remainder vanished.

Corruption is rife in Russia although authorities have vowed to eradicate it.

© 2011 AFP

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