$533 mn misspent on Russia defence deals Watchdog

Moscow, March 15 : About 1,500 violations and infractions have been uncovered in Russia’s state defence spending in 2012 involving over 16 billion rubles ($533 million), the Russian Federal Defence Contracts Service (Rosoboronzakaz) said Friday. The service conducted 99 scheduled and 176 surprise checks and audits, finding 1,415 instances of the unlawful receipt and use of state funds, Rosoboronzakaz said in a report posted on its website.Over 2 billion rubles was returned to the budget and over 3.5 billion rubles worth of damage was averted last year, the service said, adding that 572 admini…

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