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$609k lawsuit by convicted banker shelved

11:42 13/04/2012

MOSCOW, April 13 - RAPSI. The Moscow Commercial Court has shelved until May 10 a lawsuit filed by Alexei Frenkel, convicted in the murder case of Central Bank First Deputy Chairman Andrei Kozlov in 2006, against the Deposit Insurance Agency (DIA) and the Investigative Committee for $608,700.

The Moscow City Court returned a guilty verdict and Frenkel was sentenced to 19 years behind bars on November 13, 2008. He was also ordered to pay 10 million rubles ($338,000) to the victim's father.

Kozlov headed the Central Bank's supervisory division and was the DIA founder. His responsibilities included banks selection for the deposit insurance system and banking licenses' revocation.

The attempt on Kozlov's life took place on September 13, 2006. His driver died on the spot and Kozlov died next morning at a hospital.

Frenkel was the VIP Bank chairman. His bank forfeited its license in 2006 for multiple violations of the money laundering legislation. According to the case records, Frenkel was also associated with the establishment of Sodbusinessbank, which also lost its license.

In the jury's view, investigators managed to prove that Kozlovs activities to revoke banking licenses from the violators inflicted multimillion losses on Frenkel.

Case materials read that Frenkel paid $300,000 for Kozlov's murder. Of this amount, the killers received from $3,000 to $8,500 and the intermediaries received $80,000 or more.

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$609k lawsuit by convicted banker shelved

11:42 13/04/2012 The Moscow Commercial Court has shelved until May 10 a lawsuit filed by Alexei Frenkel, convicted in the murder case of Central Bank First Deputy Chairman Andrei Kozlov in 2006, against the Deposit Insurance Agency (DIA) and the Investigative Committee for $608,700.
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