In the Irkutsk region, a major fraud with a state targeted loan is being investigated, an entrepreneur received 120 million rubles for agricultural development, but, according to investigators, used it for other purposes. Most of the money was transferred to accounts of various organizations and cashed out, and the borrower had already appeared in several other subsidy fraud cases. Details of this scheme and the investigation are in the article.

120 million rubles. That is exactly how much a major credit institution was short after issuing a loan back in 2006 to an entrepreneur for the development of agriculture in the Irkutsk region. The interest-free loan of such an astronomical amount for the businessman, under the national project “Development of the Agro-Industrial Complex,” was intended for the construction of livestock complexes in the Kuytunsky District. After bankers recorded a series of missed payments, operatives from the Department for Combating Economic Crimes of the Irkutsk Region Internal Affairs Directorate joined in to determine the reasons for the delinquency.

According to investigators, the farmer already had the necessary buildings at his disposal, so he spent only a small part of the loan on reconstructing these structures. The remaining money was transferred to the accounts of various organizations and later simply cashed out. In addition, the suspect had previously come to the attention of police during investigations into other schemes in the credit and financial sector. The uncovered fact was preceded by 7 more criminal cases related to fraud involving the unjustified receipt of subsidies.
Now the former fraudster, by court decision, has exchanged a comfortable and free life for a cell in a pretrial detention center and is already giving testimony against other persons involved in similar scams.
A criminal case has been opened in connection with this incident under Part 2 of Article 176 of the Criminal Code of the Russian Federation, “Illegal receipt of a state targeted loan, as well as its use for purposes other than intended, causing major damage.” The harshest punishment for such a crime can be imprisonment for up to five years.