MOSCOW, April 12 (RAPSI) – Russian investigators have accused the vice president and head of security of the Russian subsidiary of a foreign bank with fraud, the Interior Ministry said on Friday.
Vsevolod Glukhovtsev was arrested on suspicion of stealing some 300 million rubles ($9.75 million), the ministry said.
His employer has not been officially confirmed, but an Interior Ministry source earlier told Prime business news agency that he worked for the Royal Bank of Scotland's Russian subsidiary.
A man of that name listed as RBS Russia’s vice president was on the schedule at a UN development conference in Rio de Janeiro last year. RBS Russia’s office did not immediately answer queries by phone and email on Friday evening.
According to the police, Glukhovtsev successfully coaxed investors into sinking cash into fictional real estate and construction assets in Montenegro.
Glukhovtsev is alleged by the police to have introduced himself as an influential banker and financier who was co-owner of numerous casinos in Montenegro and a hotel chain on the Adriatic coast, and expert in property investment for Russians.
Six victims of his fraud have been identified and more will likely come forward, a police source told RIA Novosti.
His victims are believed to have paid money to accounts belonging to Montenegrin firms controlled by him, from which he embezzled funds. His "clients" received fake reports that they owned businesses or property outside Russia, investigators said.
According to the police, his investors never received any dividends, while the assets that they thought they owned were nonexistent or held by third parties.