MOSCOW, August 3 (RAPSI) – The Moscow Commercial Court has dismissed a motion filed by the Deposit Insurance Agency (DIA) state corporation seeking to seize property of 21 ex-managers of MAST-Bank, the court ruling reads.
Value of the property in question reaches 13.1 billion rubles ($206.2 million).

According to the court, the applicant did not provide sufficient evidence to support its claims. It was stated that “arguments of the DIA are based on speculation and can’t be taken into account by the court.

The bank was declared bankrupt in August 2015. During the bankruptcy procedure it was found that the bank’s management made several deals exchanging the bank’s assets with unpayable debts of individuals and legal entities. It was also found that the bank did not take measures to prevent its bankruptcy.

Earlier, ex-president of now insolvent MAST-Bank Yury Pirogov and two other ex-managers pleaded not guilty to embezzlement of 5.6 billion rubles ($90 million).

Investigators believe that in 2013-2015 the defendants stole funds by giving out non-performing credits to companies under their control and then transferred money further to other organizations.

The defendants were detained until September 27.

Earlier, the court sentenced ex-top manager of the bank Alexander Chemetov to 4.5 years in a penal colony. Chemetov admitted his guilt in full.