Plastic Logic CEO Galkin has been arrested in connection with the Rusnano embezzlement case.

According to him, the case was initiated on April 21, 2023 under Section 4 of Art. 160 of the Criminal Code (large-scale embezzlement). The amount is not mentioned. Rusnano is recognized as an injured party.

Plastic Logic was founded in 2010 as a project of Rusnano and the British Plastic Logic. The company produced flexible displays. Former Rusnano director Anatoly Chubais claimed that the tablets would be used in Russian schools. After an audit by the Accounts Chamber in 2014, the declared plant in Zelenograd was not built and the technology was not purchased.

Rusnano said at the time that Plastic Logic was in bankruptcy proceedings. It began after completing an assessment of the company’s “solvency recovery prospects” in order to recover the investment. At the end of July, the Moscow Arbitration Court dismissed the bankruptcy case. The reason was the debtor’s exclusion from the Unified State Register of Legal Entities on May 15, 2024 by decision of the tax authority.

The day before, TASS wrote that investigators had opened several criminal cases based on the results of inspections, which revealed facts of multi-million dollar thefts from the Rusnano company. In one case alone, damages worth more than 2 billion rubles were caused to the company.

A few days ago, Rusnano announced the launch of mass production of uniquely Russian exoskeletons. The devices are assembled from Russian-made components and are used to move heavy loads.