MOSCOW, March 19 - RAPSI. Vnesheconombank (VEB) Deputy Chairman Anatoly Ballo, who has been charged with fraud, continues to act as the bank's deputy chairman.

Investigators maintain that Ballo and his accomplices stole $14 million on September 24, 2008 as part of a loan provided to Evraziyskiy to purchase a 100-percent interest in Yugvodokanals' charter capital, the Interior Ministry reported on March 12.

Evraziyskiy is a water supply operator in southern Russia. VEB has been the major shareholder of Evraziyskiy since 2006.

"Ballo goes to work every day and performs his duties in full," VEB's spokesperson said.

Ballo was detained by the security services, but Moscow's Tverskoy District Court released him on bail. Investigators charged him with fraud a week ago. He faces up to 10 years in prison.