Ex-owner of Ergobank Barmin sentenced to 8 years' imprisonment

Ex-owner of Ergobank Barmin sentenced to 8 years' imprisonment
Ex-head of Ergobank Vyacheslav Barmin

Former chairman of the board Vyacheslav Barmin appropriated more than 750 million rubles ($11.4m) from the cash department of a credit institution.

The Tverskoy District Court of Moscow sentenced ex-chairman of the deprived of license Ergobank board Vyacheslav Barmin to 8 years in a penal colony. The court found the financier guilty of embezzling 758.8 million rubles from the bank’s cash department (part 4 of Article 160 of the Criminal Code of the Russian Federation), the ICR reports. The court imposed a security arrest on Barmin’s bank accounts. The ex-banker does not admit his guilt.

According to the investigation, on December 31, 2015, Barmin took advantage of his duties, appropriated depositors' money and spent on his own needs. On January 15, 2016, the Central Bank revoked the license from Energobank. The interim administration of the Deposit Insurance Agency conducted an audit and established the fact of the theft, after which it applied to enforcement agencies. In January 2017, the ICR initiated a criminal case. On October 1, Barmin was arrested in the courtroom.

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