MOSCOW, August 21 (RAPSI) - The property of former Bank of Moscow President Andrei Borodin has been seized in Latvia, Deputy Prosecutor General Alexander Zvyagintsev said in an interview with the Rossiiskaya Gazeta government daily.

Russia launched a criminal case against Borodin and his former first deputy Dmitry Akulinin in late 2010 on charges of large-scale fraud involving state funds. They were accused of improperly loaning $443 million to shell companies, which then transferred the cash to Yelena Baturina, the wife of Moscow ex-mayor Yury Luzhkov and the owner of the construction empire Inteco.

Borodin, whose Bank of Moscow functioned as the capital's chief investment vehicle under Luzhkov, fled to the UK in 2011. In November 2011 the Russian Interpol bureau put Borodin and Akulinin on the international wanted list. In March 2013 Borodin was granted political asylum in the UK.

On May 27, 2013, the Swiss Office of the Attorney General (OAG) launched a criminal case against Borodin and has frozen the CHF 354 million (around $368 million) in his Swiss bank accounts, and has declared Bank of Moscow an injured party in the case. The bank now may file for damages, to be paid from Borodin's arrested funds. Similar lawsuits may also be filed against him in other countries.