Ex-president of Eurotrust bank charged with $87 mln fraud

© RIA Novosti

10:44 29/09/2014

MOSCOW, September 29 (RAPSI) – Andrei Krysin, former president and co-owner of the bankrupt Eurotrust bank, has been charged with fraud in a case involving 3.4 billion rubles ($87.8 million), Kommersant newspaper writes on Monday.

Krysin allegedly organized an illegal withdrawal of funds from Eurotrust shortly before it was declared bankrupt in February this year, the newspaper writes.

Similar charges were earlier brought against the former acting chairman of the bank, Pyotr Zhurin, and several other people who were thought to be involved in the fraud. Krysin and Zhurin will be held until November. Both have denied their guilt.

Ilya Sizov, director general of IFC Omega, has also been charged with conspiracy in the fraud. Kommersant writes that he is cooperating with the authorities and has signed a pledge not to leave the city. He testified that he only acted on orders from Andrei Krysin.

The newspaper writes, citing an Interior Ministry source, that this week charges will also be brought against former Eurotrust CFO Olga Bocharova and Alexander Yesakov, the former director for investment. Both have been placed on house arrest.

The Interior Ministry’s Investigative Department opened a case against Eurotrust under an article on large-scale fraud in the summer of 2014, after the Deposit Insurance Agency reported that at least 3.4 billion rubles ($87.8 million) had been illegally withdrawn from the bank. The case was opened after an audit following the revocation of the bank’s license.

The Central Bank of Russia revoked the license of Eurotrust Bank, one of Russia's 200 largest banks by assets, in February in a move to clean up the national banking sector. In March, the Moscow Commercial Court declared it bankrupt.