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VEB-Leasing asks authorities to check deals concluded under old management

The current management of Vnesheconombank unit VEB-Leasing JSC asked Russian law enforcement authorities to check whether its former General Director Vyacheslav Solovyev and other ex-employees were involved in the embezzlement of 298 million Russian rubles from the company, RBK Daily reported.

VEB-Leasing wants investigators to check transport leasing agreements concluded with several companies between July 2013 and July 2014 to finance the purchase of car fleet from Moscow taxi operator ASAP. Internal audit carried out at VEB-Leasing reportedly showed that the 298 million ruble agreements had been concluded based on nonmarket conditions. In addition, the companies in question turned out to be affiliated with each other and were possibly under the control of Solovyev, who headed VEB-Leasing until April 2016, and several other executives who worked for the company at the time, according to the report.

VEB-Leasing notified law enforcement authorities about the agreements in May, after Russia's former First Deputy Prime Minister Igor Shuvalov was appointed new chairman of parent company Vnesheconombank, RBK Daily noted, adding that the move is part of the new management's approach to dealing with problem assets.

As of June 4, US$1 was equivalent to 62.02 Russian rubles.