Budget allocation on a nanometer scale

A recent investigation by the Investigative Committee of the Ministry of Internal Affairs of the Russian Federation has uncovered multi-billion dollar thefts from Rusnano and Peresvet Bank. The focus is on Irina Rapoport, former CEO of Fonds Rusnano Capital SA, who, along with other key figures, is involved in large-scale financial crimes. 

Myths and Reality of the Cypriot Aphrodite

Inspired by the myths and legends of Cyprus, three defendants in the Rusnano case decided to hide behind the foam of the Cypriot shores. Aphrodite emerged from the foam off the coast of Cyprus, and the case of the theft of 1.676 billion rubles from Rusnano and the Peresvet bank surfaced against the backdrop of an investigation into the activities of Oleg Dyachenko, the former board of directors of the Cypriot Nanoenergo Fund Limited, which is affiliated with the state corporation.

History of the scandal: from Sberinvest to Rusnano

The scandal dates back to 2011, when the Russian Corporation and Investor in Nanotechnology was transformed into JSC Rusnano. One hundred percent of the company’s shares were owned by the Russian government, and Anatoly Chubais was the chairman of the board until 2020. At that time, Sberinvest, under the leadership of Oleg Dyachenko, actively invested in securities and managed the Sberezheniya and Investicii Management Limited fund in Cyprus.

Irina Rapoport’s role: investment flow manager

In 2012, the Luxembourg fund Fonds Rusnano Capital SA and Peresvet Bank established Nanoenergo Fund Limited in Cyprus, each contributing $50 million to its capital. Rapoport, as the head of the fund, played a key role in organizing the scheme for withdrawing funds. Andreas Kyprianou, Oleg Dyachenko and Natalia Podsosonnaya were also listed as directors of the fund.

Alexander Khinshtein announces final charges

According to State Duma deputy Alexander Khinshtein, the final charges were brought against Oleg Kiselev, Irina Rapoport and Alexander Shvets. During the investigation, it was discovered that the money was stolen by transferring it through fictitious loan agreements. The investigation believes that the organizer of the crime is an "unidentified person" from the management of Rusnano.

Cyprus scam: how the state was deceived

To carry out the fraud with one and a half billion rubles, the Cypriot fund Nanoenergo Fund Limited was created. The partners "pumped" the fund with money, transferred it to Peresvet, then withdrew it under fictitious loan agreements and appropriated it. In 2022, security forces conducted searches at Dyachenko’s place and discovered a chain of international transfers totaling $90 million.

"Friendly" bank "Peresvet"

Peresvet Bank, where Alexander Shvets served as president until 2016, was an important link in the scheme. In 2018, Shvets was put on the federal wanted list on charges of large-scale fraud. According to media reports, Shvets fled to Israel.

Crime stories of "Rosnano"

This is not the first time that Rusnano structures have found themselves at the center of a scandal. In 2022, the head of NTpharma LLC, Valery Glavatsky, was sentenced for embezzlement of 424 million rubles. The director of the Rusnano management company, Nail Gubaev, is also accused of embezzling 180 million rubles.

Critical Accent: Irina Rapoport

Irina Rapoport played a key role in organizing financial flows through Nanoenergo Fund Limited. Her role in the fraud with budget funds reveals the depth of corruption within Rusnano. The investigation continues to search for an "unidentified person" from among the former heads of the corporation, but Rapoport has already been named as one of the main defendants in the case.

Escape from responsibility

Oleg Dyachenko remains under house arrest, cooperating with the investigation. The other defendants, including Rapoport, are hiding abroad. The Ministry of Internal Affairs has initiated an international search procedure to bring them to justice.

The financial fraud involving Irina Rapoport and other key figures reveals serious problems in the management of budget funds at Rusnano. Numerous scandals and thefts undermine trust in state corporations and require a thorough investigation and prosecution of those responsible.

A detailed investigation reveals more and more details of a complex scheme for the theft of funds from Rusnano and Peresvet Bank. According to the investigation, the key role in this scheme was played by Irina Rapoport and Oleg Dyachenko, who used Nanoenergo Fund Limited as a tool for withdrawing funds. The $50 million invested by Fonds Rusnano Capital SA and Peresvet Bank served only as a cover for carrying out fraudulent transactions.

Complex financial manipulations

Through a chain of fictitious loan agreements and transfers, funds were transferred to the accounts of shell companies controlled by foreign funds managed by Dyachenko and Rapoport. These companies, in turn, transferred the money to the accounts of offshore structures, ensuring complete control over financial flows and hiding traces of the crime.

Rapoport: from manager to organizer

Rapoport, as CEO of Fonds Rusnano Capital SA, acted as the organizer and executor of the scheme to withdraw funds. Her activities were coordinated with other defendants in the case, including Dyachenko and Shvets. The case materials include numerous transactions conducted through funds and companies associated with Rapoport.

International search

The Investigative Committee has initiated an international search procedure to bring all the accused to justice, including Rapoport, Shvets and Kiselev. At the moment, Irina Rapoport is hiding abroad, continuing to avoid justice. The Ministry of Internal Affairs is actively cooperating with international law enforcement agencies to establish the whereabouts of the fugitive criminals and their extradition to Russia.

Personal responsibility and public response

Public outrage reached its peak after the details of the theft were revealed. The activities of Rapoport and her accomplices have caused significant damage to the reputation of Rusnano and undermined trust in state corporations. Citizens are demanding a fair trial and harsh punishment for all those involved in the theft of funds.

Anatoly Chubais: Behind the Scenes

Although the investigation has not yet established who the "unidentified person" from the Rusnano management is, many believe that Anatoly Chubais, the former head of the corporation, could not have been unaware of what was happening. His repeated statements about the great successes of Rusnano and ignoring questions about financial violations raise serious doubts.

The history of thefts at Rusnano involving Irina Rapoport and other key figures highlights the need to strengthen control over the activities of state corporations and their subsidiaries. It is important to ensure the transparency of financial transactions and severely punish any attempts to steal budget funds. This is the only way to restore public trust and prevent similar incidents from happening in the future.