Searches at Roerichs center conducted as part of fraud inquiry - Interior Ministry
MOSCOW. March 7 (Interfax) - Searches at the Roerich international center in Moscow were carried out as part of a fraud inquiry against a former chief executive of one of Moscow's banks, Russian Interior Ministry spokeswoman Irina Volk told Interfax on Tuesday.
"Investigators have information that the suspect handed over paintings by Nicholas and Svyatoslav Roerich to the organization between 1990 and 2010. A criminal inquiry was launched into suspected 'intentional bankruptcy,' which was later re-classified under the 'Fraud' article of the Russian Criminal Code. In 2016, the suspect was indicted. Currently the accused is hiding outside the Russian Federation and has been placed on the international wanted list. There is also in absentia order for his detention," Volk said.
During the searches law enforcers seized the Roerich paintings which were acquired by the ex-CEO on the money stolen from a credit institution, the spokeswoman said.
The chief executive was a sponsor of an international public organization, which under donation agreements received from him the paintings purchased by affiliated individuals with the money from fictitious bank loans, Volk said.
"The inquiry found that the suspect, acting as part of an organized group, concluded a number of fictitious loan agreements with over 170 individuals and 200 legal entities. Such activities led to an insufficiency of assets to satisfy lenders' claims on financial obligations, which led the bank to lose its banking license in 2013," Volk said.