Compared to our bankers they are small time crooks.
3 Russian bankers arrested over $25 million fraud
Today, 06:34 PM
A Moscow court sanctioned arrest of three top bank executives Thursday on charges of fraud and embezzlement of over $25 million.
According to the evidence provided, the Basmanny Court of Moscow satisfied an appeal by the Investigation Committee of Russia's prosecution service to detain the former VEFK Bank owner Alexander Gitelson, as well as the bank's deputy CEO Ivan Bibinov and CEO Vitaly Ryabov, Russian news agencies said.
?The former bank executives are suspected of embezzling over 890 million rubles,? spokeswoman for the court Anna Usacheva said.
The amount is roughly equal to $25 million.
According to the media reports, the investigation revealed that up to 67 percent of loans issued by the East European Financial Corporation (VEFK) Bank were directed by shareholders for the development of their own business projects.
In February the Bank of Russia ordered to reorganize the St. Petersburg-based VEFK Bank, while its top executives were charged with fraud.
The bank's new investors, Nomos Bank and Otkrytie Financial Company will each invest 2.5 billion rubles into VEFK's capital. The government is supposed to give 15 billion rubles.
No comments yet Add comment
3 Russian bankers arrested over $25 million fraud
Today, 06:34 PM
A Moscow court sanctioned arrest of three top bank executives Thursday on charges of fraud and embezzlement of over $25 million.
According to the evidence provided, the Basmanny Court of Moscow satisfied an appeal by the Investigation Committee of Russia's prosecution service to detain the former VEFK Bank owner Alexander Gitelson, as well as the bank's deputy CEO Ivan Bibinov and CEO Vitaly Ryabov, Russian news agencies said.
?The former bank executives are suspected of embezzling over 890 million rubles,? spokeswoman for the court Anna Usacheva said.
The amount is roughly equal to $25 million.
According to the media reports, the investigation revealed that up to 67 percent of loans issued by the East European Financial Corporation (VEFK) Bank were directed by shareholders for the development of their own business projects.
In February the Bank of Russia ordered to reorganize the St. Petersburg-based VEFK Bank, while its top executives were charged with fraud.
The bank's new investors, Nomos Bank and Otkrytie Financial Company will each invest 2.5 billion rubles into VEFK's capital. The government is supposed to give 15 billion rubles.
No comments yet Add comment
