MOSCOW, June 25 - RAPSI. The Deposit Insurance Agency seeks damages from VEFK-Urals bank former management, according to an agency report.

As the bank’s court-appointed bankruptcy administrator, the agency has stated that it is entitled by law to collect from its management the losses inflicted by their intentional issuance of bad credit. Former managers will be sued after the debtors’ bankruptcy procedure has been completed and the liabilities under the loans have been recovered, according to the report.

The Sverdlovsk Regional Commercial Court declared VEFK-Urals bankrupt on March 27, 2009.

In April, the Supreme Court upheld the 10-year prison sentence of Sverdlovsk Pension Fund branch head Sergei Dubinkin for accepting 36.5 million rubles ($1.088 million) in bribes, the Urals Federal District Interior Department reports.

Investigators and the court have established that Dubinkin systematically passed funds entrusted to him to the bank, which were later used for the bank's own ends.

Dubinkin received 500,000 to 600,000 rubles ($15,000-18,000) per month from the bank for the possibility to unlawfully use the fund’s money.