Russian Investigative Committee opens fraud case against Intercommerz CEO Bugayevsky at Central Bank head's initiative
MOSCOW. Nov 2 (Interfax) - The Russian Investigative Committee has opened a fraud case against Intercommerz bank board chairman Alexander Bugayevsky at the initiative of the Central Bank head, the committee press service said, adding that Bugayevsky was charged with embezzling over 3.9 billion rubles.
"Following verification of the statement by the Russian Central Bank chairperson, a criminal case was opened against Intercommerz bank board chairman Alexander Bugayevsky and hitherto unidentified persons under Part 4, Article 159 of the Russian Penal Code (fraud)," the press service said in a report seen by Interfax on Wednesday.
According to the detectives, Bugayevsky debited over 45 million euros (more than 3.9 billion rubles) in bank money to the accounts of foreign companies controlled by him and his accomplices as false foreign currency exchange transactions in the period from January 21 to January 25, 2016.
Given the bank's failure to comply with federal laws, the banking license of Intercommerz was revoked and the bank was declared bankrupt in April 2016 by resolution of the Moscow City Arbitration Court.
"It was decided in the course of an inquiry against Bugayevsky to bring the accusations, and he was put on the wanted list. The whereabouts of Bugayevsky are still unknown," the report said.
Police put a freeze on the banker's assets - an apartment in Moscow, a country cottage, plots of land in the Moscow region and over 100 million rubles, which was presumably gained in an illegal way, - seeking to reimburse the damage, the report said.
