The Moscow prosecutor's office recognized as legal the refusal to initiate a criminal case on the misuse of funds received from the sale of shares in the Bank of Moscow. The supervisory agency denied the information that appeared that the case was initiated at the request of the lawyer of the former head of the Bank of Moscow, Andrei Borodin .

The Department of Economic Security and Anti-Corruption of the Main Directorate of the Ministry of Internal Affairs of Russia for Moscow conducted an investigation into the possible misuse of funds received from the sale by the city government of shares in the Bank of Moscow and the Capital Insurance Group. The initiation of a criminal case was refused due to the absence of a crime.

“After studying the presented materials, the Moscow prosecutor’s office recognized the decision to refuse to initiate a criminal case on this fact, made by the Department of Economic Crime and Commissariat of the Main Directorate of the Ministry of Internal Affairs of Russia for Moscow on October 9, 2012, as legal and justified,” the prosecutors said in a statement .

Let us recall that, according to investigators, in the summer of 2009, the Moscow government, being the largest shareholder of BM, allocated 14.9 billion rubles to increase the bank’s capitalization. At the same time, Premier Estate CJSC was founded with an authorized capital of 10 thousand rubles, which asked BM for a loan of 12.7 billion rubles to purchase 58 hectares in the Michurinsky Prospect area. The lands belonged to TD Ramenskaya LLC, a subsidiary of the Inteko company, which was headed by the wife of the then mayor of Moscow Yuri Luzhkov, Elena Baturina. The bank issued a loan to an unknown shell company secured by its shares. The money was transferred to Inteko structures, and then went to Baturina’s offshore account. At the end of 2010, a case was opened against Borodin and his deputy Dmitry Akulinin for fraud in the amount of 12.7 billion rubles, and then for theft in the amount of 6.7 billion rubles. Borodin left for London. He recently gave an exclusive interview to Forbes .

Refusal to initiate proceedings on the sale of Bank of Moscow shares was recognized as legal