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Investigators find evidence of Bk of Moscow ex-execs fraud

Prime News

Investigators have begun a series of searches in several companies’ offices and private houses seeking evidence in connection with the Bank of Moscow fraud case, a source from one of Russia’s security services said Wednesday, RIA Novosti reported.

“The searches are being conducted in the offices of several companies and in the houses of persons involved in unlawful activities with the former top management of the Bank of Moscow being the main suspects under the case,” the source said.

In February 2011, the Bank of Moscow’s former president Andrei Borodin and his deputy Dmitry Akulinin were accused of abusing their positions of power in connection with the embezzlement of 12.5 billion rubles linked with real estate developer Premiere Estate.