Russian law enforcement officials have formally presented charges against Anatoly Ballo, Deputy Chairman of the country’s national development bank Vnesheconombank (VEB) in relation to a $14 million fraud, the Interior Affairs Ministry said on Monday.
According to investigators, Ballo and unnamed accomplices stole $14 million, as part of a loan granted to the Evraziisky company to buy 100 percent of Ugvodokanal firm, on September 24, 2008. Investigators believe the money was transferred to offshore companies’ accounts in Swiss banks.
“One of Ballo’s accomplices has been charged. Investigation of the third accomplice, who is currently in hospital, will begin soon,” the ministry said in a statement.
Last week a Moscow court released Ballo on bail of five million rubles ($168,500).