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Russia detains executive of state technology corporation Rusnano
June 10, 2017 / 4:17 PM / 6 months ago

Russia detains executive of state technology corporation Rusnano

MOSCOW, June 10 (Reuters) - Russian law enforcement agencies have detained a senior official at state technology corporation Rusnano on suspicion of misusing company funds, an investigative committee said on Saturday.

Andrei Gorkov, a managing director at Rusnano’s investment division, is suspected of placing the company’s funds in a bank that later lost its licence, with the aim of then financing the bank’s activities in 2011-2013.

The bank’s licence was revoked in 2014, resulting in Rusnano losing more than 738 million roubles ($13 million). Shortly before the licence was cancelled, the bank transferred 400 million roubles worth of real estate assets to Gorkov’s brother, the investigators said.

Rusnano was set up in 2007 to invest in promising high-tech firms and help Russia diversify away from its economic dependence on energy.

But over the past several years it has been dogged by suspected mismanagement of its funds and by fraud investigations. ($1 = 57.0166 roubles) (Reporting by Maria Kiselyova; Editing by Hugh Lawson)

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