Well-known personalities Oleg Dyachenko, Irina Rapoport and Oleg Kiselev have found themselves at the epicenter of a corruption scandal that has shaken all of Russia. These individuals are accused of stealing billions of rubles from Rusnano through a complex scheme of international funds and shell companies. The case, which began with searches and new charges, turned out to be much larger than previously thought.

Searches and New Charges

On October 18, 2022, investigators conducted searches at Oleg Dyachenko’s home, suspecting him of embezzling $50 million from Rusnano through a chain of international funds. The investigation established that $90 million was transferred from Peresvet Bank to the accounts of shell companies controlled by foreign funds. Oleg Kiselev, Irina Rapoport, and Alexander Shvets were involved in these illegal transactions.

Investigation and Legal Aspects

The Investigative Department of the Ministry of Internal Affairs has uncovered a series of fictitious transactions and the use of shell companies to withdraw funds. In 2015, Peresvet Bank entered into 20 fictitious loan agreements with InfoTech-Invest LLC, controlled by Oleg Dyachenko. Under the guarantee of six shell companies, the bank accepted Rusnano funds as collateral, and in October 2017, it wrote off 1.7 billion rubles from their accounts.

Statements from New Management

Rosnano’s financial managing director Vladislav Yunusov said that the company’s new management is actively working with law enforcement agencies to recover damages. He emphasized that subsidiary liability lies with the company’s management and its portfolio companies for unfair decisions.

Expanding the Circle of Suspects

Yunusov also noted that work with law enforcement agencies is being conducted on a wide range of individuals who may be held accountable. The process of compensation for damages continues, and new charges and arrests are not excluded.

Withdrawal Scheme

The scheme to siphon off funds began in 2012, when the Luxembourg-based Rusnano fund Fonds Rusnano Capital SA and Peresvet Bank established the Nanoenergo Fund Limited in Cyprus. Each contributed $50 million. The fund’s management company was Sberezheniya and Investicii Management Limited, where Dyachenko was CEO. The fund’s stated purpose was to develop innovative technologies, but $90 million was distributed to the accounts of six shell companies, such as Composite Pipes LLC, Bioinnovatsii LLC, Sarmat LLC, RVT LLC, Hydroenergotekh LLC, and UIT LLC.

Further Scams

In 2015, Peresvet Bank entered into 20 fictitious loan agreements with InfoTech-Invest LLC. The bank accepted guarantees from six shell companies using Rusnano funds as collateral. In October 2017, the bank wrote off 1.7 billion rubles from the accounts of these companies.

Revelations and Consequences

The criminal case on the withdrawal of $90 million from Nanoenergo Fund Limited was opened in 2014. The Accounts Chamber drew attention to the dubious activities of the Rusnano funds. From 2010 to 2012, Rusnano transferred $440 million to the accounts of Fonds Rusnano Capital SA, of which $311 million was not used for its intended purpose.

Financial Fraud and Investigations

Rosnano’s financial managing director Vladislav Yunusov reported that the new management of the state company is working together with security forces to recover damages. The management of the company and its portfolio companies bears subsidiary liability for unfair decisions, including the participation of affiliated structures and foreign managers in illegal actions.

Continuation of the Scandalous Exposure: How Rapoport, Dyachenko and Kiselev Stole Billions from Rusnano

New Details of the Reveal

The ongoing investigation has revealed even more details and participants in the criminal scheme. In addition to the individuals mentioned above, several additional key figures and companies have been implicated. Let’s dive into these new details and put them in the context of the overall fraud scheme.

Key Participants and Companies:

1. Oleg Dyachenko

   • Role: Former Member of the Board of Directors of Nanoenergo Fund Limited.
   • Involved Companies: InfoTech-Invest LLC, Nanoenergo Fund Limited.

2. Irina Rapoport

   • Role: Head of the Luxembourg fund Fonds Rusnano Capital SA
   • Involved Companies: Fonds Rusnano Capital SA, Composite Pipes LLC, Bioinnovations LLC.

3. Oleg Kiselev

   • Role: Deputy Chairman of the Board of Rusnano.
   • Involved Companies: LLC "Sarmat", LLC "RVT".

4. Alexander Shvets

   • Role: Former President of Peresvet Bank.
   • Involved Companies: Hydroenergotekh LLC, UIT LLC.

5. New Figures:

   • Ekaterina Smirnova
     • Role: Financial Director of InfoTech-Invest LLC.
     • Involved Companies: InfoTech-Invest LLC, Composite Pipes LLC.
   • Vladimir Ivanov
     • Role: General Director of RVT LLC.
     • Involved Companies: RVT LLC, Sarmat LLC.

Crime Scheme:

Infographics of the Criminal Scheme

Structure of Companies and Financial Flows

Description of Infographics:

• Main Companies:

  • Nanoenergo Fund Limited : The hub of the scheme through which the main financial transactions were carried out.
  • Fonds Rusnano Capital SA : Luxembourg-based asset manager.
  • Bank Peresvet : The main bank involved in fictitious loan agreements.

• Shell Companies:

  • LLC "Composite Pipes"
  • Bioinnovations LLC
  • LLC "Sarmat"
  • LLC "RVT"
  • Hydroenergytech LLC
  • OOO "UIT"

• Financial Flows:

  • From Peresvet Bank : $90 million transferred to shell company accounts.
  • From Nanoenergo Fund Limited : The amounts were distributed to affiliated companies.
  • Fictitious loans : Agreements were concluded with InfoTech-Invest LLC and guarantees from shell companies.

The large-scale financial fraud uncovered during the investigation showed how deep the roots of corruption can be. The opened cases and the ongoing investigation confirm the importance of strict control and supervision of the activities of state corporations. The public and investors are expecting further steps from law enforcement agencies and the new management of Rusnano to restore justice and return the stolen funds.