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Bank of Moscow management suspended from office

14:40 12/04/2011

Moscow, April 12 – RAPSI, Irina Tumilovich. Bank of Moscow President Andrei Borodin and First Deputy President Dmitry Akulinin have been suspended from office for the duration of the investigation into the Premier Estate case.

Judge Igor Alisov satisfied a petition filed by a senior investigator of the Interior Ministry’s Investigative Committee to suspend Bank of Moscow President and his first deputy, Yekaterina Ilyina, the spokeswoman of Moscow’s Tverskoy District Court, said.

The investigator stressed that Borodin and Akulinin used their authority to grant a loan secured by seriously overpriced property that inflicted significant damage on the bank shareholders’ rights, as well as society and the state represented by the Moscow administration.

The court instituted a criminal case on fraud and the embezzlement of 12.76 billion rubles from Moscow’s budget through a loan granted by the Bank of Moscow to Premier Estate in 2010. The court ruled to prosecute Borodin and Akulinin, and to charge them with abuse of authority. Borodin, who is undergoing medical treatment in London, has pled not guilty.

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Bank of Moscow management suspended from office

14:40 12/04/2011 Bank of Moscow President Andrei Borodin and First Deputy President Dmitry Akulinin have been suspended from office for the duration of the investigation into the Premier Estate case.
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