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North Ossetian officials ‘steal $5.8 million in fake pensions’

6 July 2017
The Pension Fund of the Russian Federation (ria.ru)

Russian police have uncovered the alleged embezzlement by officials in North Ossetia of state budget funds from Russia’s Pension Fund.

According to Russia’s Interior Ministry, investigators discovered that more than ₽350 million ($5.8 million) had been stolen in one district department of the North Ossetian Pension Fund. Employees allegedly fabricated around 300 pensions, granting money to fictitious names for twelve years, between 2005–2017.

Police have opened a criminal case for fraud, which carries a possible fine of ₽100,000 ($1,660) or six years imprisonment. According to the Interior Ministry, the officials and others involved in the scheme are still being identified.

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