MOSCOW, March 28 - RAPSI. No violations have been found in the investigation of a high-profile case of the Foreign Economic Bank top manager Anatoly Ballo, RAPSI reports on Wednesday referring to law enforcement authorities.

Investigators maintain that VEB Deputy Chairman Anatoly Ballo and his accomplices stole $14 million as part of a loan provided to the Evraziyskiy company for the full acquisition of Yugvodokanal.

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

Investigators found that the stolen funds were placed in offshore companies' Swiss bank accounts.

Ballo was charged with fraud, he faces up to 10 years in prison. Banker was detained, but later released on bail.

Banker's defense attorney has applied for reversing the decision to open a criminal case against his client. The Moscow City Court will consider the application on March 30.