Russian prosecutors report $4bn embezzlement in Skolkovo

The Attorney General?s Office of Russia has discovered new embezzlement cases in the operation of the Skolkovo Foundation; it believes Russia has lost and/or about to lose in Skolkovo development an astronomical $4bn

The Attorney General?s Office of Russia has discovered new embezzlement cases in the operation of the Skolkovo Foundation, RBC daily reported, citing a source in the Office. The prosecutors who have conducted a thorough investigation indicate multiple cases of ?unrestricted spending? and a ?lack of diligence? in the work of some executives at the foundation that runs the development and operation of Skolkovo, Russia?s government-sponsored innovation hub just outside Moscow. ?The Skolkovo Foundation management has failed to ensure proper supervision of the ?innovation city? development project, which has resulted in unrestricted and way too excessive squandering of funds to the detriment of the state,? the Attorney General?s Office pointed out...