March 3, 2026

Rosimushchestvo's 'Serial Director' Alexander Konovalov Arrested. According to 'Novaya Yevropa', he earned millions from nationalized assets. It seems Arkady Rotenberg was not pleased.

As 'Novaya Yevropa' has learned, Alexander Konovalov has been arrested in Moscow on suspicion of especially large-scale fraud. According to sources, he was detained by the Federal Security Service, which became interested in the activities of Rosimushchestvo. The arrest of Konovalov was also confirmed by RBC sources. According to the publication, Konovalov was sent under house arrest. Sergey Chekanov, another director of the previously nationalized company 'SG-Trans', was arrested along with him. Photo: Evgeny Razumny / Kommersant / Sipa USA / Vida Press. The 'feeding' system from Rosimushchestvo Last week, 'Novaya Yevropa' published an investigation into how Rosimushchestvo manages the largest private companies that came into state ownership through so-called nationalization. Over the past four years, major private companies with total assets worth 2.5 trillion rubles have come under Russian state ownership. It is assumed that the sale of this business will help replenish the state treasury. Nevertheless, only a few public auctions have been held so far where this property was sold for money. Most of the companies are managed on behalf of the state by a special agency - Rosimushchestvo. According to the investigation's findings, 'new directors of the richest and strategically important assets for Russia are most often people close to the influential clans of the Patrushevs and Rotenbergs, but not only. Among the directors of nationalized companies, 'Novaya Yevropa' found several people close to Rosimushchestvo itself. For their work, they received millions of rubles per month. Millionaires In May 2025, Alexander Konovalov headed the company 'Rodnye Polya' (formerly 'Rif') - the largest agro-trader in Russia, after the company came under state control. Part of Konovalov's work at the agro-trader coincided with the May holidays, and by the end of the month of employment, the director received a salary of 11 million rubles. Alexander Korotonozhkin, an acquaintance of Konovalov, worked with him at the company. His salary for the month amounted to another six million. 'At some point, Konovalov was appointed to the company from Rosimushchestvo, and an economist Korotonozhkin came with him. No one knows what they were doing,' says a former top manager of 'Rodnye Polya' who requested anonymity. 'They lasted only a month, then others came, and no one was properly informed about the changes.' Alexander Konovalov. Photo: Konovalov's page on the 'My World' service. According to the interlocutor of 'Novaya Yevropa', before nationalization, the director of 'Rodnye Polya' received about 800 thousand rubles per month. For about a year, Korotonozhkin and Konovalov also worked together at 'Cardioelektronika', which is among the top five largest pacemaker manufacturers in Russia. It was nationalized in June 2024. In total, Konovalov received nearly 7 million rubles from the company, and Korotonozhkin - 6.5 million. Since May 2025, Konovalov has also held the position of director of 'Vector Rail' - this is the parent company for a large holding that provides railway cars for lease. For two months of work (the latest available information), he received almost three million rubles from the company. Rotenberg dissatisfied According to 'Novaya Yevropa's' source, law enforcement officers' claims against Konovalov arose precisely in connection with this last company. 'Vector Rail' is one of the leading companies in the Russian market for operational leasing of freight cars. The company also has several large subsidiaries. For example, 'SG-Trans' is a leading Russian railway operator for the transportation of liquefied petroleum gases and light hydrocarbon feedstocks. All these companies were transferred to Rosimushchestvo ownership in April 2025. Arkady Rotenberg. Photo: Yuri Kochetkov / EPA. According to 'Novaya Yevropa's' source, Arkady Rotenberg - one of Russia's richest businessmen, as well as a childhood friend and sparring partner of Vladimir Putin - was interested in this asset. This information is indirectly confirmed by the fact that Sergey Chekanov, a top manager who previously worked in Rotenberg's structures, for example, was on the board of directors of the Crimean Soda Plant, headed 'SG-Trans' and other companies of the railway holding. Rotenberg himself is named as the instigator of the criminal case against Konovalov. Along with Konovalov, according to RBC, Chekanov himself was arrested. They are accused of asset stripping from a state-owned company.