Six Arrested in Río Santiago Shipyard Fraud Probe

Six people have been arrested by Argentinian authorities over fraud allegations of public funds linked to the country’s shipbuilder Rio Santiago Shipyard (ARS).

According to La Prensa, the arrested are former government officials and executives, including the former chairman of the yard Hector Scavuzzo.

The embezzlement, estimated to be worth around 1.04 million USD (AP 16 million), is believed to be related to contracts that date back to 2012 and 2013.

The suspects are accused of having awarded bogus jobs to people, unaware of the practice, putting them on payrolls and subsequently diverting their salaries.

Investigation by the local authorities is underway.

World Maritime News Staff

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