Former Executives of Russian Firms Face International Fraud Charges

In a significant development on June 4, 2025, the Meshchansky Court in Moscow approved the in-absentia arrest of former Plastic Logic CEO Nikolay Tychinin and ex-deputy chair of RUSNANO, Yuri Udaltsev. Both are charged with large-scale fraud, with their whereabouts previously unknown. The charges involve the misappropriation of funds linked to projects such as the “Chubais Tablet” and plastic display production.

High-Profile Arrests and International Pursuits

The Moscow court mandated pre-trial detention for Tychinin and Udaltsev, previously charged in absentia with fraud under Russian law. Declared internationally wanted, their arrest warrants extend for two months from either their capture in Russia or extradition back to the country. It’s reported they fled abroad, prompting a separate case for their criminal investigation.

Ongoing Legal Proceedings

Meanwhile, Boris Galkin, another former Plastic Logic CEO, is currently examining a substantial 60-volume case file against him, potentially facing up to 10 years for allegedly embezzling 6 billion rubles. Galkin maintains his innocence in the allegations. He preceded Tychinin in leadership at the company.

Other implicated individuals include Artur Galstyan, Marina Kasenkova, and former deputy head of RUSNANO, Boris Podolsky, all of whom are under arrest yet deny wrongdoing. Additionally, former top managers Irina Rapoport and Oleg Kiselev have been charged with orchestrating a group operation to embezzle RUSNANO funds, causing significant losses.

Asset Seizures and Financial Repercussions

Earlier, in April, Moscow’s Arbitration Court froze assets amounting to 5.6 billion rubles, belonging to ex-RUSNANO head Anatoly Chubais and seven others. RUSNANO aims to recover collective damages of approximately 3.892 billion rubles and $20.4 million through these legal actions.