Investigation estimates damage from actions of ex-head of Astrakhan region at 212 million rubles

Investigation estimates damage from actions of ex-head of Astrakhan region at 212 million rubles
Rasul Sultanov

According to the Investigative Committee of Russia, Rasul Sultanov and a head of the regional Ministry of Finance took out loans worth of 6 billion rubles ($95 million) at excessive rate.

Former Prime Minister of the Astrakhan region Rasul Sultanov and acting head of the regional Ministry of Finance Vitaly Shvedov have become defendants in a case into abuse of power (item 3 of article 285 of the Criminal Code of the Russian Federation), reports the media office of the Investigative Committee of Russia.

The investigation theory is that the officials - while it was not necessary - took out loans worth of 6 billion rubles ($95 million) at excessive rate (from 7 up to 8.5 per cent per annum). According to the investigation, this amount could have been taken out at 0.1 per cent rate.

The damage to the region’s budget was estimated at 212 million rubles ($3.3 million). Besides that, the prosecution concluded that the actions of Sultanov and Shvedov caused “erosion of credibility of bodies of municipal power.”

The fact that Sultanov and Shvedov had been detained became known on July 26. The Investigative Committee of Russia reports that at the present time, searches and other operational and investigative actions are being carried out. Other possible instances of illegal activities are being checked, as well.

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