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Banker accused of fraud arrested in Russia

03 November 2015 10:00 (UTC +04:00)

Baku – APA. Alexander Grigoriev, owner of several bankrupted financial institutions including banks "Zapadny", "Doninvest" and “Russkiy zemelniy bank”, has been arrested in Moscow.

He was detained by the Russian Interior Ministry’s economic security and anti-corruption department in his own restaurant on October 30, the Russian newspaper Kommersant reported.

A court has sentenced him to two-month pretrial detention.

The businessman is accused of fraudulency.

The businessman was arrested as part of a criminal investigation for fraud. According to investigators, six months before the license’s withdrawal from "Doninvest", Grigoriev and his men had taken control of the financial structure. They then transferred 1 billion rubles from the bank accounts of Doninvest’s then-chairman Alla Kalitvanskaya and her deputy Svetlana Gulenkova to the accounts of the structures under their control, and even prepared fictitious documents for the purchase of real estate. Both women have been arrested. Both women have been arrested.

Note that, the licenses of the bankrupt banks was cancelled due to high-risk credit policy, placing of funds in low-quality assets, withdrawal of capital from Russia and the loss of its own funds.

According to information he has been the chief of Russia’s one of the largest organized criminal groups, which included over 500 people and about 60 banks. Over the past four years alone, they have taken away 46 billion dollars from the country. The criminal group’s annual turnover has amounted to one trillion.