OREANDA-NEWS  Investigators in Tolyatti, Samara region, have opened a criminal case on the theft of more than 1 million rubles allocated to the Russian developer of electric vehicles Zetta from the budget, the prosecutor's office of the region reported.

"The Prosecutor's Office of the Central District of Tolyatti conducted an audit of compliance with the requirements of budget legislation in the activities of LLC Zetta... The district Prosecutor's office sent the verification materials to the investigative body for making a procedural decision. As a result, a criminal case was opened on the fact of embezzlement of budget funds in the amount of over 1 million rubles under part 4 of Article 159 of the Criminal Code of the Russian Federation "Fraud on a particularly large scale," the message says. The sanctions of this article of the Criminal Code of the Russian Federation provide for up to 10 years in prison.

The Agency found that from December 2017 to December 2019, the settlement account of Zetta LLC received subsidies from the federal budget to compensate for part of the costs of conducting research and development work in priority areas of the civil industry for a total amount of over 284 million rubles. "The agreements concluded by the Ministry of Industry and Trade of Russia with Zetta LLC have not been executed on time. The volume of work execution ranges from 21% to 47%," the report says.