Russian cooperative founder charged with embezzling over 1 billion rubles from 1,148 people, Russia's Interior Ministry says. She allegedly lured savings with high-interest promises for more than 10 years.
The founder of a credit consumer cooperative is accused of embezzling more than 1 billion rubles from 1,148 people, according to Irina Volk, official representative of Russia's Interior Ministry. Investigators say the suspect attracted money from Russian citizens for over 10 years by promising high returns on deposits, then laundered the funds by claiming they were invested in residential housing construction.
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