MOSCOW, January 10 (RAPSI) – The Moscow Commercial Court has extended for six months bankruptcy proceedings against a former co-owner of Vneshprombank Georgy Bedzhamov charged with embezzlement, according to court records.

As of today, asset disposal has not been completed, and settlements have not been performed with creditors, the debtor’s financial manager Lyubov Kireyeva says.

Bedzhamov was declared bankrupt on July 2, 2018 on the request of VTB24 bank. 

The former banker was put on the international wanted list in 2016.

Investigators believe that ex-president of Vneshprombank Larisa Markus and her brother Georgy Bedzhamov have created an organized crime group to siphon money from the bank. The group including a former vice-president of the bank Yekaterina 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 ($1.7 billion).

Vneshprombank was declared bankrupt in March 2016.

In May 2017, Markus received 9 years in prison for embezzlement and later was declared bankrupt on the request of VTB24 bank. In August, her sentence was reduced by 6 months. 

Glushakova has been sentenced to 4 years in prison.