Stella-Bank ex-owner arrested within case over $30.4m-theft
The former banker was detained in an apartment on Rublyovka before leaving for Mexico.
The Leninsky District Court of Rostov-on-Don arrested the former owner of the bankrupt Stella-Bank, Alexander Yerkhov, on suspicion of fraud for 2 billion rubles ($30.4m)- the amount the bank owed to depositors. Yerkhov was detained in his luxury apartment on Rublyovka before leaving for Mexico, where, according to the intelligence services, the suspect has his dwelling. The FSB across the Rostov region reports.
According to the prosecution, in February 2016, Yerkhov bought out Stella-Bank from its founder Konstantin Averin, and then he issued deliberately bad loans through nominees and fictitious companies and appropriated money. After that, Yerkhov opened offices in Moscow under the guise of expanding the bank network and acted aggressively on attracting deposits.
In April 2016, the Central Bank of the Russian Federation revoked the license from Stella-Bank, and in June the Arbitrazh Court of the Rostov region declared the bank bankrupt. The creditor’s liabilities fell on the state.
Yerkhov was detained last week in an apartment on Rublyovskoe Highway. The investigators found two Rolls-Royce cars in the garage of the officially unemployed ex-banker.