The funds misappropriated from Russia`s state budget in 2011 has broken the records - 718 billion rubbles were embezzled from the state budget - the head of the chamber of incomes of Russia announced during his annual report.
According to the Izvestia newspaper, misappropriation of state funds was revealed in the process of preparation for the Sochi Winter Olympic Games. Despite the large funds transferred for the preparation works, ne third of the constructions are still underway in the Black Sea resort.
The funds were embezzled in the municipal transport office of Moscow. According to the newspaper, seven billion rubles were spent on illegal subsidies for the transport complex development.