Contractor Director Arrested for 37M Ruble Embezzlement
The director general of a contractor has been arrested on suspicion of fraud involving 37.6 million rubles (approximately $417,800 at current rates) in the reconstruction of tram depots in Nizhny Novgorod.
Jul 24, 2026 0
Investigators suspect the contractor falsified cost reports.
Source:
In Nizhny Novgorod, a criminal case has been opened for fraud exceeding 37 million rubles (approximately $411,100 at current rates). The defendant is the general director of a construction company from St. Petersburg, who was detained on suspicion of embezzling funds during the reconstruction of tram depots.
The investigation believes that the director of the subcontractor firm falsified reporting documents and acceptance certificates. In fact, the reconstruction work on the depots was not completed in full. Between December 2023 and January 2024, the company illegally received 37.6 million rubles (approximately $417,800 at current rates).
Searches took place in early July at the offices of the contractor and a related company in St. Petersburg. Law enforcement officers seized documents relevant to the case and interrogated witnesses. The 51-year-old general director has been taken into custody. He faces up to 10 years in prison.
Earlier, a case was opened in Nizhny Novgorod against the head of a company from the Real-Invest group, Leonid Krasnokutsky. He is suspected of fraud in the disposal of tram sleepers after track repairs.
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