Galkin Boris Yuryevich

Biography

2024: Arrest

Former head of Plastic Logic Boris Galkin was arrested in the case of embezzlement of funds allocated by Rusnano Corporation. This became known on August 28, 2024.

Galkin is accused of embezzling significant sums aimed at developing and producing flexible displays. As part of the investigation, a court in Moscow decided to place the accused in a pre-trial detention center.

According to TASS, a criminal case against Boris Galkin was initiated on April 21, 2023 under Part 4 of Article 160 of the Criminal Code of Russia, which provides for responsibility for embezzlement on an especially large scale. Rusnano was recognized as the injured party in this case. During the investigation, it was found that the funds allocated to Rusnano were not used for their intended purpose, and the Plastic Logic company was unable to restore its solvency, which caused the initiation of bankruptcy proceedings.

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Reuters

In February 2024, it became known that Rusnano initiated the bankruptcy of Plastic Logic and transferred the inspection materials of this company to law enforcement agencies. Rusnano also announced its intention to bring to subsidiary liability the controlling persons of Plastic Logic for non-fulfillment of obligations to creditors. However, on July 24, 2024, the Moscow Arbitration Court dismissed the bankruptcy case of Plastic Logic in connection with the exclusion of the company from the Unified State Register of Legal Entities by decision of the tax authority.

Plastic Logic was engaged in the development and production of devices based on flexible electronics, including non-silicon displays. From 2010 to 2012, Rusnano invested ₽7,1 billion in the Irish company Plastic Logic, receiving 43.84% of its shares. This investment was aimed at developing the production of flexible displays, but the project faced financial difficulties and could not achieve the expected results.^[1]

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