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Report: Otkritie's former head arrested in absentia on embezzlement charges

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Report: Otkritie's former head arrested in absentia on embezzlement charges

A Moscow district court issued an order to arrest Otkritie Financial Corp. Bank's former head Evgeny Dankevich in absentia over the embezzlement of 34 billion Russian rubles from the lender, news agency Prime reported.

Charges against Dankevich refer to transactions that involved Otkritie's debtors O1 Group and O1 Group Finance and took place shortly before the lender was taken over by the Russian central bank in August 2017, Prime said March 11, adding that the executive could face up to ten years in prison if sentenced.

Dankevich is on Russia's wanted list, and local law enforcement authorities believe he has been hiding in Israel, Prime reported.

As of March 11, US$1 was equivalent to 66.03 Russian rubles.