MOSCOW, April 20 - RAPSI. Law enforcement authorities have exposed violations in Master-Bank and have started criminal proceedings against the suspects, one of whom being the bank's former Vice-President Evgeny Rogachyov.
Rogachyov is reported to be a member of an organized group suspected of the illegal cash out of two billion rubles ($68 million). The group offered businessmen a range of services, including tax evasion schemes and money laundering.
Rogachyov was detained in Sochi and is now kept under house arrest by court order.
The Interior Ministry said the regulatory authority had been notified of the Master-Bank violations.
Banking malpractices have also been uncovered in a number of other banks. Investigators have revealed that their management used fly-by-night companies to transfer funds under false payment orders to different accounts for subsequent cash withdrawal. The scheme operators charged a fee of 3 to 7 percent for their services.
Law enforcement authorities conducted 29 searches in Master-Bank, Zolostbank and Strategy bank on March 14.