The Tagansky Court in Moscow sentenced the former director of the investment department and member of the board of directors of the Russian Venture Company (RVC) Yan Ryazantsev and the co-founder of the Bright Capital fund Mikhail Chuchkevich to 6 and 5.5 years in prison, respectively. for fraud.
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Both defendants were detained in the courtroom, TASS reports citing the court’s press service.
The court also partially accepted RVC’s claim against Ryazantsev and Chuchkevich for damages and recovered 394 million 984 thousand rubles.
The businessmen were arrested in 2018, but were released after the intervention of the presidential commissioner for the protection of businessmen’s rights, Boris Titov.
The Kommersant newspaper reported that under the pretext of investing in the American Alion Energy Inc., the businessmen transferred 1.3 billion rubles to it from RVC funds that were stolen.
Chuchkevich and Ryazantsev were reportedly involved in a criminal conspiracy and, from 2012 to 2016, transferred several tranches through a British fund under loan agreements. The total amount of the tranches amounted to 22.7 million dollars.
The transfers were made against the decisions of the board of directors of the venture capital company, which was on the verge of bankruptcy. As a result, the money was withdrawn and the damage to the company amounted to 1.3 billion rubles.
Author:
Anastasia Marina
Source: RB
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