RBC: General Director of the Russian Venture Company was detained in Moscow

The general director of the Russian Venture Company (RVC), Alexander Povalko, was detained in Moscow, RBC reports , citing sources.

The publication's interlocutor at the central office of the Ministry of Internal Affairs clarified that Povalko was detained for 48 hours.

In turn, RVC told The Bell that the general director is now “answering questions from the investigative authorities.”

“The investigation is focusing on the activities of the RVC I LP fund , in particular the transaction to reinvest part of the proceeds from the sale of the portfolio company Soft Machines Inc. funds to another portfolio company - Alion. Investments have been carried out since 2012 in compliance with corporate procedures,” the company said.

RVC also confirmed the fact of searches in offices, which wrote Kommersant about the day before. According to the newspaper, the Ministry of Internal Affairs suspected the management of the state-owned company of abuse of power causing grave consequences (Part 2 of Article 201 of the Criminal Code). According to investigators, it invested RVC money in its personal projects.