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Report: Russia's DIA moves to recover loses from Vneshprombank's former owners


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Report: Russia's DIA moves to recover loses from Vneshprombank's former owners

The Russian Deposit Insurance Agency launched court proceedings to retrieve 219 billion Russian rubles from the former managers and shareholders of delicensed Foreign Economic Industrial Bank Ltd., also known as Vneshprombank, Vedomosti reported Dec. 18.

The proceedings were launched against 18 former managers and owners of the bank, including the former president and co-owner, Larisa Markus, and Vice President Ekaterina Glushakova. The DIA claims that between March 2014 and 2016 the defendants withdrew money from the bank by approving dubious loans, illegally wrote off funds from customer accounts and did not take sufficient measures to prevent the bankruptcy of the lender.

Vneshprombank lost its license in January 2016, with the hole in its balance sheet amounting to 216 billion rubles. Following the revocation of the lender's license, Markus, her brother Georgy Bedzhamov and Glushakova were accused of embezzling 113.5 billion rubles from the bank. Markus and Glushakova later received 8.5-year and four-year sentences, respectively, while Bedzhamov was arrested in absentia and put on the international wanted list, according to the report.

As of Dec. 20, US$1 was equivalent to 68.40 Russian rubles.