MOSCOW, July 31 (RAPSI) – Actual owner of the St. Petersburg bank Banking House Yevgeny Lykov has been put on the federal wanted list for alleged embezzlement of 600 million rubles (about $10 million), the Investigative Committee announced on its website on Monday.

In August 2016, it was reported that officers of the Federal Security Service for St. Petersburg (FSB) and local investigators conducted searches in the Banking House.

Investigators believe that Lykov, an actual owner of the bank, embezzled over 600 million rubles and transferred the funds to his own accounts. Allegedly he also forged over a thousand sham credit contracts signed without clients’ knowledge and made it look like recipients received the funds.

In July 2017, Lykov was summoned to the Investigative Committee’s office to be charged with a crime but he did not appear before investigators and did not explain his absence. He was put on the wanted list as a result.

In March 2016, the Russian Central Bank revoked the Banking House’s license noting that the bank has a large shortage of funds and is engaged in questionable operations. In April, the bank was declared bankrupt.