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Tech company CEOs arrested in GLONASS embezzlement case

Russia: The previous and current general directors of high-tech company Synertech have been arrested on suspicion of embezzling funds from the federal programme for the GLONASS satellite navigation system, the Interior Ministry”s Moscow Department said.

The current chief executive officer was taken into custody, and the former CEO was placed under house arrest after Moscow’s Tverskoi District Court granted the investigators” warrant request on May 16, the same day that Moscow police reported another major embezzlement from GLONASS, saying that Synertech management has stolen at least 85 million rubles ($2.7 million) “supposedly as payment” for conducting a research project.

Source: Ria Novosti