Former Rosnano Executive Jailed 9 Years for Embezzlement

Sep. 10, 2026 Andrei Kushanryov. @moscowcourts / Telegram A judge in Moscow has sentenced Andrei Kushanryov, a former senior executive at the state nanotechnology corporation Rosnano, to nine years in prison after finding him guilty of embezzling billions of rubles meant for the development of a high-tech memory chip. State prosecutors had accused Kushnaryov of conspiring with former Rosnano deputy board chairman Yury Udaltsov and others to misappropriate public funds between 2013 and 2021, when he served as investment managing director at the state corporation and CEO of its subsidiary Crocus Nanoeletronics. Udaltsov reportedly fled from Russia to Germany in 2015 and remains wanted. Prosecutors said the funds were allocated to launch Russian production of MRAM chips in partnership with France’s Crocus Technology. Investigators had alleged that more than 7.5 billion rubles ($89.2 million) went missing from a total budget of nearly 12 billion rubles. “Kushnaryov and the others never intended to develop new nanotechnology projects and knew full well that the project would never actually be carried out,” Russia’s Prosecutor General’s Office said in a statement. Kushnaryov, who pleaded not guilty, was ordered to pay a fine of 76 million rubles ($904,000) and barred from holding senior corporate roles for two and a half years. A judge at the Gagarinsky District Court also granted Rosnano’s lawsuit against Kushnaryov for 7.5 billion rubles in damages. The ruling is the latest in a legal crackdown against former executives of Rosnano, which former Kremlin adviser and veteran reformer Anatoly Chubais headed for over a decade. Read more about: Rosnano , Court cases Sign up for our free weekly newsletter Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview Subscribers agree to the Privacy Policy We sent a confirmation to your email. Please confirm your subscription. A Message from The Moscow Times: Dear readers, We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent." These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia. We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help. Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact. By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us. Once Monthly Annual Continue Not ready to support today? Remind me later. × Remind me next month Remind me Thank you! Your reminder is set. We will send you one reminder email a month from now. For details on the personal data we collect and how it is used, please see our Privacy Policy. Read more Samara Court Sentences Exiled Cult Leader Svetlana Lada-Rus to 8 Years in Prison A music teacher by training, Lada-Rus first gained attention in the 1990s after opening an occult healing center in Samara. 2 Min read Exiled Politician Leonid Gozman Jailed 10 Years in Absentia for ‘Justifying Terrorism’ State investigators said the charges stemmed from an interview that Gozman gave to a “foreign media outlet” in 2023. 1 Min read Opposition Politician Shlosberg Returned to House Arrest Pending ‘Discreditation’ Trial The Pskov City Court had ruled earlier this week to impose a ban on certain activities instead of continuing Lev Shlosberg’s house arrest. 2 Min read Russian Court Orders Baring Vostok's Calvey to Be Kept in Custody Until April The judge said Calvey, a U.S. citizen, was accused of a "serious crime" and could try to flee.