MOSCOW, May 24 (RAPSI) – The Basmanny District Court in Moscow has arrested the property of Russian businessman Anatoly Motylev who is involved in the large scale fraud criminal case, the Kommersant newspaper reported on Tuesday.

The court has seized several apartments belonging to Motylev as well as several land parcels in the Moscow Region, Kommersant has reported.

Motylev, who currently lives abroad , is the former owner of several Russian banks including “Russian credit”, “M-Bank”, “AMB B”and “Tulsky Industrialist”. In the summer of 2015 the Central Bank of Russia withdrew the licenses of those banks. All four banks are declared bankrupt and are subjected to bankruptcy proceedings, Kommersant has reported.

According to the sources of Kommersant, the large-scale fraud criminal case is related to alleged embezzlement at the M-Bank. Allegedly over 1 billion rubles ($15.3 mln) were transferred from the bank to phony companies where they were cashed and stolen.  The Investigative Committee did not confirm or deny this information.

Motylev has appealed the arrest of his property with the Moscow City Court, Kommersant has reported. The court’s commission has lifted the seizure from a small part of the property.