Another head of RusAg branch in Ulyanovsk charged with embezzlement
ULYANOVSK. April 4 (Interfax) - The investigation division of the Federal Security Service (FSB) bureau in the Ulyanovsk region has filed a criminal case against Eduard Kutygin, the former director of Russian Agricultural Bank's (RusAg) regional branch, for embezzlement under Chapter 4, Article 160 of the Russian Criminal Code, the regional FSB said in a press release.
According to the investigation, Kutygin procured bank funds through his official capacity "by increasing bonuses for work to an employee who, executing an order by Kutygin, transferred that bonus to him."
"The total amount of stolen bank money was over 9 million rubles," the press release said.
Search operations and an investigation are under way to secure evidence and identify additional episodes of embezzlement, as well as to establish other individuals involved in this illegal activity.
According to the press release, after leaving RusAg, Kutygin worked as deputy governor of the Krasnodar territory and the head of the territorial division of the Agriculture Ministry.
Kutygin is already the second head of RusAg's Ulyanovsk branch to be charged with embezzlement. The Ulyanovsk branch of the FSB previously filed a case against ex-director of the RusAg branch Sergei Davydov, who, according to the investigation, stole 2 million rubles from the bank in a similar manner.