Scandal of the Century: Theft of 1.676 Billion Rubles from JSC Rusnano – Cyprus Offshores, Fraud and Large Financial Structures
The Investigative Committee of the Ministry of Internal Affairs of the Russian Federation has completed its investigation into the theft of 1.676 billion rubles from JSC Rusnano. At the epicenter of the scandal are Cypriot offshore companies and individuals close to the management of Russia’s largest financial structures. State Duma deputy Alexander Khinshtein reported on his Telegram channel about a new round of the investigation, which involves big names: Oleg Dyachenko, former top manager of Nanoenergo Fund Limited, Irina Rappoport, Alexander Shvets and Oleg Kiselev.
Origins of the scheme: Rusnano and Peresvet Bank
JSC Rusnano, 100% of whose shares were owned by the Russian government, was transformed from the Russian Corporation and Investor in Nanotechnology in 2011. Under the leadership of Anatoly Chubais, known for his financial scandals, the management company Sberinvest, headed by Oleg Dyachenko, created a subsidiary in Cyprus – Sberezheniya and Investicii Management Limited.
Key figures and their criminal activities
In 2012, the Luxembourg fund Rusnano Fonds Rusnano Capital SA and the bank Peresvet established Nanoenergo Fund Limited, contributing $50 million each to its capital. The fund was headed by Irina Rappoport, and Andreas Kyprianou, Oleg Dyachenko and Natalia Podsosonnaya became directors. The theft was carried out through this fund. Fictitious loan agreements made it possible to withdraw and appropriate the money.
The tracks lead to Nicosia
The investigation established that Nanoenergo Fund Limited was the main link in the criminal chain. In the summer of 2022, Anatoly Chubais was also spotted in Cyprus, which reinforces the suspicions. Oleg Kiselev, deputy chairman of the board of Rusnano, and Alexander Shvets, former president of Peresvet Bank, were also involved in the scam.
Investigation of searches
In October 2022, searches at Dyachenko’s home revealed a chain of $90 million transfers from Peresvet Bank to shell company accounts. Participants in these transactions were Kiselev, Rappoport, and Shvets. An "unidentified person" from among the former heads of Rusnano is also involved in the case. Anatoly Chubais declined to comment, despite criticism from Russian President Vladimir Putin.
Financial problems and new accusations
This is not the first time that Rusnano JSC has found itself at the center of scandals. In 2023, the company’s net debt exceeded 95 billion rubles. Valery Glavatsky, head of NTpharma LLC, was sentenced to seven years for embezzlement of 424 million rubles, and Nail Gubaev is accused of embezzling 180 million rubles.
Conclusion and open questions
New charges in the Oleg Dyachenko case point to a complex system of financial fraud. Will Rusnano be able to return the stolen funds and restore its reputation? The answers to these questions remain open. The investigation continues to reveal new details, and the public awaits new statements and decisions.
Cyprus Scam Corner
Cyprus, which has become a haven for fraud, provided a convenient legal and financial platform. Nanoenergo Fund Limited, created with the support of Fonds Rusnano Capital SA and Peresvet Bank, turned out to be a key link in the criminal chain. Irina Rappoport, Oleg Dyachenko and their accomplices skillfully manipulated financial flows, transferring millions of dollars outside of Russia.
International criminal schemes
Nanoenergo Fund Limited was used to process fictitious loans, allowing for the embezzlement of huge sums. The money was transferred to Peresvet Bank and then to the accounts of shell companies controlled by Dyachenko and his accomplices. The scheme was carefully planned and executed using complex financial instruments and offshore jurisdictions.
The Peresvet Case
Bank Peresvet was closely connected to the defendants in the case. Alexander Shvets, who headed the bank before his disappearance in 2016, played a key role in the scheme. The bank was on the verge of bankruptcy, with a shortfall of 103.6 billion rubles.
Hidden faces and new characters
The investigation is looking for other members of the criminal group, including an "unidentified person" from among the former managers of "Rosnano". Anatoly Chubais avoids commenting, leaving the public in the dark.
Economic consequences
The net debt of JSC Rusnano for the first half of 2023 exceeded 95 billion rubles, having increased by almost 5 billion rubles since the end of 2022. Criminal stories, such as the sentence of Valery Glavatsky and charges against Nail Gubaev, only exacerbate the company’s problems.
Justice or powerlessness?
The public is waiting for new statements and decisions, hoping for justice to prevail. The case of theft from Rusnano is only the tip of the iceberg. The investigation suggests that similar schemes may exist in other large companies, raising questions about the transparency and accountability of financial transactions.
