Top Managers of 'Rosnano', Including One Armenian, Detained: Details

Three top managers of the Russian state corporation 'Rosnano' have been detained on charges of abusing their official powers and causing serious consequences. This was reported by the Russian Ministry of Internal Affairs.

The detained individuals include Boris Podolsky, the General Director of 'Rosnano', Arthur Galstyan, the Executive Director for Finance, and Marina Kosenkova, the Director of Accounting Methodology, Taxation, and Reporting. They face up to ten years in prison.

Forbes.ru reported that in 2017, the suspects engaged in "illegal actions to reclassify financial obligations" to conceal the negative results of the company’s economic activities.

"Using distorted reporting data, they provided false information about the alleged satisfactory financial condition of 'Rosnano' LLC to the sole shareholder, represented by the Russian Federation. This allowed them to avoid the cancellation of previously granted state guarantees and to attract additional funding," the statement said.