Russian authorities are investigating two Skolkovo officials after auditors uncovered suspected embezzlement of budget funds, in a setback to a plan to create a Silicon Valley-style technology hub outside Moscow. Russia's Investigative Committee (Russia's counterpart to the U.S. Federal Bureau of Investigation) said in a statement that it had opened a criminal investigation into the Skolkovo Foundation's finance director, Kirill Lugovtsev, and the head of the Skolkovo Customs Finance Company Vladimir Khokhlov, who are suspected to have stolen around 24 million roubles ($800,000). Alexander Chernov, vice president of the Skolkovo Foundation in charge of communications, declined to comment on the criminal case. He said Lugovtsev had left the foundation, while Khokhlov was still in his job, but was on temporary leave.
http://www.reuters.com/article/2013/02/13/us-russia-skolkovo-fraud-idUSBRE91C0XC20130213
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