PGO: Ukraine receives back UAH 22 mln of insurance payment for Cyclone 4 launch vehicle program in Brazil

The state has received back over UAH 22 million transferred to a foreign insurance company in December 2012 under the contract to insure the creation of the Cyclone 4 launch vehicle complex at the Alcantara Launch Center in Brazil.

The public and media relations department of Ukrainian Prosecutor General's Office (PGO) reported that the Main Military Prosecutor's Office is investigating a criminal case over embezzlement of budget funds and abuse of office by officials of Pivdenne Design Bureau during the implementation of the international program on the creation of the Cyclone 4 launch vehicle complex under Part 5 of Article 191 (embezzlement of property by abuse of official post on an especially large scale) and Part 2 of Article 367 (neglect of official duty).

"In December 2012 over UAH 22 million of government secured funds were sent to a foreign insurance company under the launch vehicle insurance contract [before it has been created]," PGO said. Read the full story

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