MOSCOW, May 12 - RAPSI. The Swiss prosecutor's office has blocked bank accounts held by former Bank of Moscow heads Andrei Borodin and Dmitry Akulinin, who are under prosecution in Moscow, a source has told RIA Novosti.

Swiss prosecutors have started criminal proceedings against the bank's former vice-president Akulinin on money laundering charges. Borodin, the bank's ex-chairman, is also suspected of the same offence.

RIA Novosti has yet to reach Borodin and Akulinin for comments.

Both men have been placed on the international wanted list on suspicion of committing crimes while they headed the Bank of Moscow.

The court issued arrest warrants for both in absentia.

Akulinin and Borodin were found to have used their power to conduct an illegal transaction during the sale of the bank-owned Investlesprom, the largest timber holding company. In 2006 its shares were sold for next to nothing to Lesonavigator, a company controlled by the bankers. The Investigative Department has reported that one share cost 10 rubles ($0.3) and the entire portfolio was sold for 10,000 rubles ($343).

A further case was opened against Borodin and Akulinin in February on suspicion of embezzling over $225 million.

Investigators maintain that Borodin and Akulinin used their position to arrange the remittance of no less than 7.8 billion rubles ($267.7 million) from the bank's account to Cyprus-based companies under their control between 2008 and 2010. The bank received as little as 1.1 billion rubles ($37.75 million) back. The remaining amount was misappropriated by the suspects, according to the investigation.

The Prosecutor General's Office has submitted a request to the UK for Borodin's extradition.