The Rusnano Group has filed a lawsuit against former executives of the company, seeking to recover 11.9 billion rubles in losses incurred during the implementation of the Crocus project. This was reported by the state corporation.
The Crocus project was approved in 2011 and involved the creation of a unique production of MRAM magnetoresistive random access memory in Russia, which was considered a promising replacement for traditional types of memory. However, the project did not achieve its stated goals.
According to Evgeny Frolov, Director for Special Assignments at Rusnano JSC, the lawsuit is directed against individuals who made decisions on the approval, financing, and development of the project between 2011 and 2020.
Technological risks were ignored and mechanisms to protect the interests of the state were not provided for at the very start of the project.
According to the company, the financing of Crocus increased uncontrollably for almost nine years, despite the project's unprofitability.
Rusnano added that a significant portion of the invested funds was directed to finance third-party legal entities, including those with foreign participation, on terms unfavorable to the state corporation.
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