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The Not-So-Russian Venture Company

The Russian Venture Company, initially created to finance technology startups and to spur investment and innovation within Russia, stands accused of using its funds instead for overseas investment.  The Prosecutor General’s Office estimates the company’s misuse of government funds at a tune of around $222 million.

Plenty of Russian companies are under fire from the government at the moment for using their funds to win cash through overseas investments, it’s true.  But the twist to this tale?  The company is chaired by Elvira Nabiullina, the Economic Development Minister.