Ex-Rosnanо manager sentenced to 9 years for embezzling 7.5B rubles

The Moscow Gagarin Court sentenced former top manager of Rosnano, Andrey Kushnarev, to nine years in a colony, Interfax reported.

Consensus

Andrey Kushnarev was sentenced to nine years in prison by the Gagarinsky District Court of Moscow.
The court found Kushnarev guilty of embezzlement in a particularly large amount under Article 160, Part 4 of the Russian Criminal Code.
The embezzled funds amounted to more than 7.5 billion rubles.
The funds were intended for the MRAM project — creating a production facility for magnetoresistive random-access memory in Russia.
Kushnarev was also fined 76 million rubles.
The court fully satisfied the civil claim filed by Rosnanо for 7.5 billion rubles.
Kushnarev was prohibited from holding managerial positions in commercial organizations for 2.5 years.
The investigation into other individuals involved in the case is ongoing.
The trial took place on September 10, 2025.
The verdict was reported by the Prosecutor General's Office of Russia.

The civil claim was filed by Rosnanо in December 2025. — tg_sotavisionmedia
The Crocus project was approved by Rosnanо in 2011. — tg_astrapress
Kushnarev was the head of the investment division and later CEO of LLC 'KROKUS NANOELECTRONICS'. — vedomosti
Yuri Udaltsov was placed under international arrest warrant during the investigation. — vm
The embezzled amount was 7.5 billion out of 12 billion rubles allocated for the MRAM project. — kommersant
Kushnarev was arrested in late September 2024. — kommersant
Yuri Udaltsov fled Russia in July 2015 and was suspected in another Rosnanо fraud case involving 6.7 billion rubles. — kommersant
The prosecution requested 9 years and 10 months of imprisonment. — kommersant
Kushnarev was previously the head of the investment division of Rosnanо and later CEO of 'Krokus Nanoelectronics'. — fontanka