Investigation of Bank of Moscow embezzlement case completed

Investigation of Bank of Moscow embezzlement case completed

Defendants, ex-president of the credit institution Andrey Borodin and his ex-deputy Dmitry Akulinin, have time to get acquainted with the materials.

The investigation into the embezzlement of 12 billion rubles ($208m) in the Bank of Moscow has been completed, the press service of the Russian Interior Ministry reported. The accused, former financial organization president Andrey Borodin and his ex-first deputy Dmitry Akulinin, are now getting acquainted with the materials, the report said.

After that, the case will be transferred to the Prosecutor General's Office for approval of the indictment.

Earlier, former director of Premier Estate, Svetlana Timonina, was released from custody, and the Moscow City Court revoked the sentence in the form of a five-year prison sentence for aiding and abetting Bank of Moscow 12 billion rubles embezzlement.

The case against former Bank of Moscow president Andrey Borodin and his deputy Dmitry Akulinin on charges of fraud with funds from the city budget was initiated in late 2010. According to the investigation, in the fraudulent scheme an important role was played by the company Premier Estate, which the Bank of Moscow issued a loan.

As a result, top managers of the bank, with the complicity of Boris Shemyakin, the president of Kuznetsky Most Development CJSC, and Timonina, the head of Premier Estate CJSC, stole 12.5 billion rubles belonged to the bank. Andrey Borodin and Dmitry Akulinin were put on the international wanted list, after which they were arrested in absentia by the decision of the Tverskoy Court.

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