UPDATE: Russian police search offices of Rusnano

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MOSCOW, Nov 16 (PRIME) -- Russian law enforcement authorities are searching offices of state nanotechnology company Rusnano and the company is ready to cooperate with investigators and provide all necessary information, the corporation said on Wednesday.

“As we suppose now, investigatory actions against one of Rusnano’s managers can be related to delays in construction of NTpharma pharmaceutical complex in the Yaroslavl Region,” the company said in a statement without naming the executive.

Rusnano started investing in NTpharma in 2009, but co-investors faced problems with payments, which jeopardized the project. The new investor was found only in 2015, and now construction of the project has been finished with big delays.

Alexander Asnis, a lawyer representing interests of Rusnano, told PRIME that the searches were not related with the corporation’s employees. The investigators have collected information connected with NTpharma over a 1 billion ruble embezzlement case, he said.

(65.5548 rubles – U.S. $1)

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