Yekaterinburg businessman gets 3 years in prison for embezzlement of ‘nanotechnology’ funds

August 18, 2014. Chkalovsky District Court of Yekaterinburg sentenced the director of several firms Alexander Osminin to three years in prison; the man was found guilty of embezzling 7m RUR that had been allocated from Sverdlovsk Region budget to the development of nanotechnologies, the press officer of Sverdlovsk Region public prosecution authorities reports.

It was determined by the court that in 2008-2011, the businessman signed a number of agreements with Sverdlovsk Region Government for Industry & Science relating to reimbursement of money spent on scientific research and development and engineering in the field of nanotechnologies. All in all, the entrepreneur received 9m RUR.

For three years, the man produced fictitious reports on spending which had never taken place. Osminin embezzled over 7m RUR out of the 9m RUR provided.

The detention of the culprit and the investigation of the criminal case (with charges based on Articles 3 and 4 of the Russian Federation Criminal Code (Fraud)) were carried out by Sverdlovsk Region division of the Federal Security Service.

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