Kardo CEO suspected of 4 million ruble fraud, detained

The high-profile scandal continues to gain momentum. Valentin Rabotenko and two assistants are suspected of fraud involving several million rubles. Today it became known that they have been taken into custody, and the investigation is ongoing.

Recall that the detention of the Kardo CEO became known on January 23. Valentin and his assistants could have produced and submitted to the Ministry of Youth Policy of Stavropol Krai 105 fake airline tickets — for participants of the Kardo festival, but no one used them. The documents were accepted and approved, despite possible discrepancies.

Today, the prosecutor«s office of Stavropol reported that Rabotenko, the head of an NGO, received a grant of 215 million rubles (approximately $2.4 million at current rates) from the regional budget. This money was allocated for the organization of the street culture and sports festival »Kardo«. However, according to the investigation, the suspect and his two assistants stole 4 million rubles (around $44,000 at current rates) from this amount.

Law enforcement agencies have initiated a criminal case under Part 4 of Article 159 of the Russian Criminal Code (fraud on a particularly large scale). Under this article, one could face up to 10 years in prison.

On January 25, Valentin Rabotenko was taken into custody by court order. A similar preventive measure was chosen for his two assistants. The investigation of the criminal case continues.