The ex-president of the bank was accused of embezzling over 420 million rubles

The former president of one of the Russian banks was accused of embezzling at least 420 million rubles. The results of the investigation of the criminal case are reported on the website of the Ministry of Internal Affairs of Russia.

“The ex-president of one of the banks, together with unidentified persons, authorized transactions for the acquisition of fictitious securities from “one-day” firms. Subsequently, the bank's funds received on the settlement accounts of these organizations were used by the members of the organized group at their own discretion," the statement says.

According to the department, the material damage caused to the institution amounted to over 426 million rubles.

The investigation has now been completed. The criminal case was sent to the Khamovnichesky District Court of Moscow for consideration on the merits.

Vera Yurchenko