Russian police opens case for 540 mln rbl fraud in Bank of Moscow

Prime News

Russian law-enforcement agencies have opened a criminal case against unnamed employees of the Bank of Moscow for a 540 million ruble fraud, a source close to the bank said Friday, as cited by RIA Novosti.

The source said that the Bank of Moscow’s employees and other unidentified persons stole 540 million rubles from the bank under the guise of foreign exchange transactions in 2009–2010. Continue reading

Former CBR official Gennady Melikyan nominated to VTB supervision board

SKRIN Newswire

The Russian government has appointed former first deputy CBR chairman Gennady Melikyan its representative at VTB Bank’s supervisory board. As an independent director was also nominated Leonid Melamed, deputy board chairman at AFK Sistema, a relevant order was posted on the government’s web site.

As representatives of the Russian Federation in VTB Bank’s supervisory board were also nominated the bank’s current supervisory board chairman Sergey Dubinin, VTB Bank CEO Andrey Kostin, Deputy Finance Minister Alexey Savatyugin, director of the department at the Finance Ministry of Russia Alexey Uvarov and first deputy CBR chairman Alexey Ulyukaev. Continue reading

MP Denis MacShane warns against investing in Russia

MP Denis MacShane warns against investing in Russia; A former minister for Europe has urged the Government to attach “health and safety” warnings to promotional material that encourages businesses to invest in Russia.

Denis MacShane, Labour MP for Rotherham, has written to Lord Green, the trade minister, in protest at a conference scheduled for today and sponsored by UK Trade & Investment that will promote Skolkovo, billed as Russia’s Silicon Valley.

Citing the damage caused to companies by “corrupt officials in Russia”, he wrote: “It seems irresponsible for British companies to be putting themselves in harm’s way without full disclosure about the tragedies that could befall them in Russia. Continue reading

“Political Prisoners in Russia Number in the Hundreds”

Novyye Izvestia

Henry Reznik, President of the Moscow Chamber of Lawyers

The first demand of the Bolotnaya rally is immediate release of political prisoners. As though in response to it, Vladimir Putin stated, when meeting with political scientists, that there were no political prisoners in Russia. Now, are there people who should be released? Lawyer Henry Reznik has spoken to Novyye Izvestia about that. Continue reading