MOSCOW, May 14 (RAPSI) – Ex-president of now insolvent MAST-Bank Yury Pirogov and two other ex-managers of the bank have pleaded not guilty to embezzlement of 5.6 billion rubles ($90 million), the spokesperson of Moscow’s Preobrazhensky District Court Alexandra Savelyeva has told RAPSI.

Investigators believe that in 2013-2015 the defendants embezzled funds by giving out non-performing credits to companies under their control and then transferred money further to other organizations.

The defendants have been detained until September 27.

Earlier, the court sentenced former top manager of the bank Alexander Chemetov to 4.5 years in a penal colony. Chemetov admitted his guilt in full.