Russian fugitive banker dies in London

Russian fugitive banker dies in London
Valery Zavodov

61-year-old Valery Zavodov had been sick for a few years and had recently been in a severe condition.

Former owner and head of Uraltransbank Valery Zavodov (against whom a criminal case had been initiated in Russia) has passed away in London. A few participants of the regional banking market told this to Znak.com with reference to the banker’s immediate entourage. 

According to Znak.com, 61-year-old Valery Zavodov had been sick for a few years and had recently been in a severe condition. What exactly caused the death is not reported. It is so far not known where the burial is going to take place.

Uraltransbank was one of the famous regional banks. Its branch mostly worked in the Sverdlovsk region. The bank worked with the local businessmen who had opened accounts in a credit organization, as well as pensioners and those who received social benefits. 25 per cent of the shares was owned by the European Bank for Reconstruction and Development, but in 2015, it sold its share to companies close to Zavodov.

According to Znak, the Deposit Insurance Agency (that is working on the bankruptcy procedure of Uraltransbank) reported - with reference to the Russian MIA General Administration for the Sverdlovsk Region - that in summer, 2019, a criminal case under item 2 of article 201 of the Criminal Code of the Russian Federation (Abuse of power) had been opened against the banker. After that, the banker set off for the capital city of Great Britain where his son lives, reports Vedomosti Ural.

Tags: UK banks
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