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Russian Skolkovo Foundation Managers Under Financial Investigation

The Skolkovo Innovation Center in Moscow (file photo)
The Skolkovo Innovation Center in Moscow (file photo)
Two managers of the Russian foundation responsible for the country's leading scientific and technological center near Moscow are under criminal investigation.

Russia's Investigative Committee spokesman said on February 12 that two managers of the nonprofit Skolkovo Foundation have been charged with embezzling $790,000 of government funds meant for the Skolkovo Innovation Center.

Foundation president Viktor Vekselberg told journalists that the money was returned last year after suspicious deals with a subsidiary owned by a suspect's family came to light.

The foundation was established in 2010 and tasked by then-President Dmitry Medvedev with creating a new science and technology development center in the Moscow suburb of Skolkovo.

More than 300 companies have received the status of Skolkovo resident since then and operate under advantageous economic conditions.

Based on reporting by ITAR-TASS and Interfax

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