An anonymous reader writes: After a pair of high profile launch failures in the past few months, Russian space agency Roscosmos is making headlines again: this time for corruption. A public spending watchdog reported that the organization had misused 92 billion rubles ($1.8 billion) in 2014 alone. Deputy Prime Minister Dmitry Rogozin said their space efforts have been undermined by rampant corruption. “We have uncovered acts of fraud, abuse of authority (and) document forgery. With such a level of moral decay, one should not be surprised at the high accident rate.” He also said Roscosmos is to be “abolished, ” and replaced by a state corporation of the same name by the end of the year. “In its new, corporate identity, Roscosmos will be responsible not only for setting mission goals but managing wages for space industry workers and modernizing production facilities.” Read more of this story at Slashdot.

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Russian Space Agency Misused $1.8 Billion, May Be Replaced