Saturday, November 25, 2017

Businessman sentenced to three years in prison for government embezzlement

The Chkalovsky District Court of Yekaterinburg handed down a three-year prison sentence on Monday to Alexander Osminin, the former director of numerous scientific and technology development firms.

Osminin was found guilty of embezzling a total of $190,000 in grant money and allocations from the Sverdlovsk region that were intended for the development of nanotechnology projects, Ural Business Consulting reports.

During the trial, prosecutors showed that during the period of 2008 to 2011, Osminin signed a number of agreements with the Sverdlovsk Region Government for Industry and Science to receive funding for numerous scientific development and nanotechnology engineer projects conducted by his collection of firms. In total, Osminin collected a total of $250,000 in government funding.

Ultimately, prosecutors proved that Osminin falsified reports on behalf of his companies which claimed the groups were receiving equipment staff to further their technology development operations. The former executive was charged with Fraud under Articles three and four of the Russian Federation Criminal Code. Sentencing will be carried out by the Sverdlovsk region's division of the Federal Security Service, according to Ural Business Consulting.