Internationally wanted DS-Bank ex-president arrested upon embezzlement case

Internationally wanted DS-Bank ex-president arrested upon embezzlement case

Since May 2016, he was hiding in the Republic of Mauritius.

Former president of the bankrupt DS-Bank Fyodor Tsyrulnik was arrested on charges of embezzling 585 million rubles ($9.8m). Tsyrulnik was arrested shortly after he voluntarily returned to Russia from Mauritius, where he was hiding from the investigation for a year and a half. RIA Novosti reported citing official representative of the ICR Svetlana Petrenko.

"The investigation ensured the voluntary return to the Russian Federation of accused Tsyrulnik, hiding since May 2016 in the Republic of Mauritius. He was placed in custody in accordance with the decision of the court, previously adopted after the putting on the wanted list," Petrenko said.

According to the investigation, under the auspices of Fedor Tsyrulnik, 585 million rubles were transferred to the accounts of one-day firms in April 2016. The money was withdrawn from the bank under the guise of issuing loans. Tsyrulnik himself was hiding from the Russian justice in the Republic of Mauritius. Soon he was put on an international wanted list.

In addition to Tsyrulnik acting chairman of the bank's board Igor Sinyukhin, head of the lending department Alexander Vdovin, and unemployed Andrey Kuznetsov and Vitaly Vergizov were accused upon the case of embezzlement of funds.

The license of DS-Bank was revoked by the Central Bank in May last year. In September 2016, the Arbitrazh Court declared DS-Bank bankrupt. As of April 1, 2016, the credit institution held 531-place in the banking system of Russia.

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