Russia's Deposit Insurance Agency filed a lawsuit with a local court to retrieve 141.39 billion rubles from 11 former top managers of Public Joint Stock Co. Tatfondbank, whose license was revoked in 2017.

The DIA claims that the managers, including the lender's former management board head Robert Musin, were involved in purchasing illiquid securities, transferring liquid assets to the trust management of an entity affiliated with the bank and failing to take measures to prevent the lender's bankruptcy.

Musin was arrested soon after Tatfondbank's license was revoked for fraud and money laundering, but the charges were later dropped and he was charged with abuse of power instead, Vedomosti said Dec. 18. In January 2018, Musin was transferred from jail to house arrest.

As of Dec. 18, US$1 was equivalent to 62.66 Russian rubles.