Former Moscow Banker Charged Over Bankruptcy

MOSCOW, April 4 (RIA Novosti) – Moscow police have charged a former banker of unlawful bankruptcy leading to losses of 5.7 billion rubles ($190 million), the city’s Interior Ministry branch reported on Thursday.

According to the investigation the unnamed 45-year-old bank chairwoman resigned from her post at the bank shortly before its license was suspended, taking some essential documents with her.

As a result, the bank’s new acting administration did not have the necessary papers to claim assets from loan debtors and pay back lenders, causing the multibillion ruble losses.

The police did not disclose which bank was involved.

If tried and convicted, the suspect faces up to three years in prison.


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