MOSCOW, July 27 (RAPSI) – The Moscow Commercial Court has extended a procedure of asset sale as to property of Vneshprombank former co-owner Georgy Bedzhamov, charged with large-scale embezzlement for 6 months, according to court records.

Bedzhamov was declared bankrupt in July 2018.

In 2016, Bedzhamov was put on the international wanted list on embezzlement charges. Investigators believe that ex-Vneshprombank president Larisa Markus along with her brother Georgy Bedzhamov, who once co-owned the bank, created an organized crime group to siphon money from the bank. The group including Glushakova allegedly granted loans to sub-companies and did not refund money to Vneshprombank. Allegedly, from May 2009 to December 2015, conspirators managed to embezzle about 114 billion rubles.

In March 2016, the Moscow Commercial Court declared Vneshprombank bankrupt. Vneshprombank was one of the top 40 by assets before it lost its license in January of the same year.

In May 2017, Markus was sentenced to 9 years in prison. Later, her sentence was reduced by 6 months.