‘King of cash-out’ Grigoriev and his accomplices from Doninvest get sentences for embezzlement
The high-profile case has been completed in Rostov-on-Don.
Rostov-on-Don’s Leninsky district court has delivered a sentence to owners and senior executives of Doninvest and Zapadny who were found guilty of embezzlement of funds.
In particular, owner of Doninvest and Zapadny banks Aleksander Grigoriev - who had been called the ‘king of cash-out’ within the media - has been found guilty of theft of funds of both banks and sentenced to 9 years behind bars.
Chairman of the board of Doninvest Alla Kalitvanskaya has been sentenced to 7 years and 10 months, and her assistant Svetlana Gulenkova got 7 years and 10 months, vice president of Doninvest Denis Volchkov got 8 years and 3 months. Co-owner of Doninvest Oksana Yermakova will serve 6 years’ sentence.
The court determined that from December, 2013, up to September, 2014, bankers from Moscow and Rostov-on-Don registered a few irrecoverable loans in the names of legal entities with false documents.
As a result, more than 2.18 billion rubles ($30 million) owned by Doninvest and Zapadny banks were stolen.