A Russian investigation at Vostochny has uncovered another case of embezzlement, with the arrest of one individual.
This one is small potatoes, involving the theft of only $134K.
ARCA has issued a statement following the arrest last week of Dumitru Popescu for embezzlement and fraud.
ARCA Space Corporation will continue the development of its aerospace technology as scheduled. The company has full confidence in CEO Dumitru Popescu and expects him to lead the efforts. Mr. Popescu was charged in New Mexico state courts with alleged embezzlement and securities issues. However, Mr. Popescu maintains his innocence and expects to prevail in court proceedings.
Meanwhile the work of the company will proceed with a goal of presenting a successful aerospike rocket engine.
Capitalism in space: The CEO of ARCA Space was arrested in Georgia yesterday for fraud and embezzlement and extradited back to New Mexico.
ARCA is the company developing an aerospike test engine that was supposedly ready for ground tests in late September but as of yet I am unaware of any actual tests taking place.
The Russians today arrested two more individuals for the embezzlement of funds during the construction work at the new spaceport in Vostochny.
The Lyublino district court of Moscow has ruled to take into custody director of the VIP Stroi Engineering company Vadim Mitryakov and former head of the Nizhny Novgorod Volga-Vyatka construction company (VVSK) Yevgenia Degtyareva, suspected of embezzling 300 million rubles ($4.42 million) allocated for the construction of roads to the Vostochny cosmodrome, the court said on Monday. “The court granted the investigation’s request on the measure of restraint for Mitryakov and Degtyareva — arrest for 2 months, i.e. until November 7,” the court’s press service told TASS.
This puts five now under arrest in the case.
The former bookkeeper at a British suborbital rocket company has been jailed for stealing almost two hundred thousand pounds from the company.
The company presently makes its money flying large size model rockets in educational venues as it works to develop suborbital craft. The embezzlement, which lasted six years, apparently almost bankrupted it.
The Commodity Futures Trading Commission today announced that it has filed charges against former Democratic Governor/Senator Jon Corzine for his part in the embezzlement of customer funds at MF Global.
The article says that most of the embezzled funds have been recovered, but that’s not only news to me, I don’t see how it’s possible. We are talking about the misuse and loss of one billion dollars.
The law is such an inconvenient thing: It appears the Obama Justice Department is not going to prosecute Obama fundraiser and former Democratic Governor/Senator Jon Corzine for the embezzlement of customer funds at MF Global.
What Corzine and MF Global did was the equivalent of a bank president digging into his customer’s private bank accounts in order to fund their own private investments. That is called embezzlement. It is a felony. That the Obama Justice Department is going to let Corzine off the hook is more evidence that this administration doesn’t believe in enforcing the law, but in using the power of government for its own ends. Disgraceful.
The Russian company building that country’s Glonass GPS system is under investigation by the police for the embezzlement of more than a half billion rubles.
Now we know: Jon Corzine gave “direct instructions” to illegally transfer customer funds to pay off MF Global’s debt.
In a different world behavior like this was called embezzlement. But Corzine is a Democrat and the go-to guy on economic matters for the Obama administration, which is why he still remains free with no criminal charges against him. Moreover, because he is so closely tied to the Obama administration we all know that any accusations or evidence against him must be racist.
Focusing in on the theft of customer funds at MF Global.
Not surprisingly, this article from the liberal New York Times plays the game of “Name that party!”, conveniently forgetting to mention anywhere that Jon Corzine and all his associates just happen to big-time Democratic Party players. To remind them, and everyone else, here’s a little video illustrating how closely linked the Democrats and Jon Corzine are:
Testimony today at a Senate hearing about the MF Global scandal revealed that Jon Corzine, the former Democratic New Jersey governor and a fundraiser for President Obama, was aware of the theft of customer funds, contrary to his own testimony before Congress. More here.
Jon Corzine: I didn’t tell my company to use customer dollars, and if I did, I didn’t mean it.
What a crock. This man — a former key adviser and fundraiser for President Obama and a major Democratic Party elected official — should be in jail for being an accessory to embezzlement.
