MOSCOW, January 11 (RAPSI, Lyudmila Klenko) – Moscow’s Khamovnichensky District Court has sentenced Musa Israilov, a defendant in the case over illegal banking activity and large scale embezzlement from Russia’s Admiralteysky bank, to 3.5 years in prison, the court’s spokeswoman Olga Myshelova told RAPSI on Wednesday.
The court also collected 210 million rubles ($3.5 million) from Israilov on a civil claim.
According to investigators, the man conspired with the bank top managers to conduct illegal banking transactions. From July 2011 to September 2015, alleged accomplices cashed over 23 billion rubles ($384 million). The criminal group members drew illegal commission income amounting to 545 million rubles ($9 million), the statement says.
Investigators believe that the case defendants conducted illegal bank operations using accounts of dummy companies controlled by them and opened in Admiralteysky bank.
Russia’s Prosecutor General’s Office reported earlier that Israilov had also assisted the bank top managers in embezzling bank funds worth 210 million rubles.
A case against Admiralteysky bank managers has been singled out for considering in a separate procedure.
Admiralteysky bank was declared bankrupt on February 1 upon the application of the Central Bank of Russia.
Business media reported in March that the Interior Ministry’s Investigative Department had put ex- chair of the bank’s board Nina Maximenko on the international wanted list. Law enforcement authorities believe that she took part in illegal cash out transaction through her bank.
According to the Central Bank, Admiralteysky bank ranked 274th among Russian banks in asset value, as of September 1, 2015.