Court sentences businessman to three years in prison for $26 mln loan fraud
MOSCOW, November 7 - RAPSI. The court upheld on Monday a three-year prison sentence to a businessman convicted of a $26 million loan fraud, the court told the Russian Legal Information Agency (RAPSI).
The investigators said businessman Andrei Ivankov founded and acquired about 80 firms from 1992 to 2008. Some companies owned real assets, but were under bankruptcy proceedings. Ivankov consequently obtained 19 loans worth a total of 800 million rubles ($26 million) after he united his firms into Delta Group. However, he never returned money to the bank.
The Interior Ministry reported earlier that Ivankov forged accounting records to obtain the loans.
The investigators charged Ivankov with 19 offenses and seized 130 real estate facilities owned by his firms.
A Moscow district court put Ivankov on a 2.9-year probation in July 2010 for similar crimes.