MOSCOW, June 25 (RAPSI) - The Interior Ministry said on Tuesday that they suspect Vsevolod Glukhovtsev, a vice president and head of security at the Royal Bank of Scotland's Russian subsidiary, of involvement in another fraud.

"In early 2006, Glukhovtsev received 600,000 euros and $450,000 from a Russian national for buying a house and for building a medical center in Montenegro. However, the suspect did not honor his commitment and disposed of the money at his own discretion," the ministry said in a statement.

Glukhovtsev was arrested in April on suspicion of embezzling over 300 million rubles (around $10 million).

The police believe that he duped people into investing in fictional real estate and construction assets in Montenegro. 

The police allege that Glukhovtsev introduced himself as an influential banker who co-owned numerous casinos in Montenegro and a hotel chain on the Adriatic coast, and an expert in property investment for Russians.

Six victims of his fraud have so far been identified.