MOSCOW, April 18 (RAPSI) – Moscow’s Basmanny District Court has ordered detention of the former deputy board chairman of Russian Credit bank Dmitry Glazachev until May 30, the court’s spokesperson Yunona Tsareva has told RAPSI.
Glazachev stands charged with embezzlement and money laundering, according to the court database.

Reportedly, Glazachev was a member of a criminal group engaged in embezzling money from banks. The gang was allegedly organized by Russian businessman Anatoly Motylev.

Motylev is the former owner of several Russian banks including Russian credit, M-Bank and Tulsky Industrialist. In July 2015, the Central Bank of Russia withdrew the licenses of those banks. All four banks were declared bankrupt.

In May 2016, the Basmanny District Court of Moscow seized Motylev’s property including land plots and apartments in the Moscow Region as part of a large-scale embezzlement case. According to a source close to investigation, he was involved in stealing over one billion rubles ($16.3 million) from M-Bank.