Former Head of Almazyuvelireksport accused of embezzling 1 billion rubles
A criminal case of as much as five episodes was initiated in respect of the former Interim Director General of Almazyuvelireksport Viktor Afonin and his brother.
The former Head of Almazyuvelireksport Viktor Afonin and his brother Boris are accused of embezzling 530 million rubles and 9.5 million dollars from the Mezhdunarodniy Aktsionerniy Bank (International Stock Bank) CJSC. At first, the Investigative Committee of Russia had suspected them of the Abuse of Authority (Part 1 of Art. 201 of the Russian Criminal Code), but later they were charged with Swindling on an especially large scale, committed by a group of persons (Part 4 of Art. 159 of the Russian Criminal Code). According to the charge, the brothers may face up to 10 years in prison.
According to investigation, for a period of 4 years since 2007 the Afonin brothers took out large loans from MAB under the safeguards of Almazyuvelireksport deposit. Following that, they transferred the funds to the accounts of subordinated companies, where they disappeared.
In February this year, Mezhdunarodniy Aktsionerniy Bank had its license revoked. As the Central Bank explained, violations were found in the field of credit risk assessment. The Deposit Insurance Agency still has to pay over 26 million rubles to the bank depositors.
Almazyuvelireksport State Unitary Enterprise is part of the Ministry of Finance structure; it is engaged in export of platinum and platinum group metals. In addition, it maintains foreign trade operations of the State Fund of Precious Metals and Precious Stones and sells control batches of rough diamonds.