News

The Samara Region investigating bodies of the Russia’s Investigative Committee have launched a criminal case against former first vice-president of OAO Volga-Kama Bank suspected of two counts under article 201 of the RF Penal Code (abuse of authority).

According to investigators in June 2013, the accused, who was the shareholder of the bank in order to gain benefits for himself and other Volga-Kama Bank shareholders illegally concluded loan agreements with directors of limited liability companies and transferred to the accounts of those companies 275 million rubles, which under agreement reached earlier with the suspect was then returned to the bank via another company. By his actions the suspect considerably violated the rights and interests of the said companies, which had bills payable to the bank of no less than 275 million rubles.

At the investigators’ motion the court has ruled to take the suspect under house arrest pending trial. Investigating operations are underway to find out all the circumstances of the crime. Investigation is ongoing.