Former Bank of Moscow President Andrei Borodin and his former deputy, Dmitry Akulinin, are facing new embezzlement charges, the Russian Interior Ministry’s investigations department said on Wednesday.
Investigators allege the two men pocketed over 6.7 billion rubles ($220 million) from money laundering schemes.
“According to the investigators’ information, in 2008-2011 these individuals abused their office to organize the transfer of at least 7.8 billion rubles from the correspondent account of Bank of Moscow to the accounts of their controlled commercial companies registered in Cyprus. Overall, only 1.1 billion rubles returned to Bank of Moscow,” the investigative department said.
The suspects used the remaining amount for their personal needs, the investigators said.
Borodin and Akulinin have been placed on the Interpol wanted list. A criminal case was opened against both in late 2010 on charges of fraud involving government funds. They are accused of illegally lending $443 million to shell companies which then transferred the funds to Yelena Baturina, the wife of Moscow’s former mayor Yury Luzhkov, owner of the construction empire Inteco.
Borodin has fled to London. Akulinin is also believed to have left Russia.