MOSCOW, December 26 (RAPSI) – Moscow’s Presnensky District Court on Monday found 12 members of a criminal group guilty of siphoning about 122.3 billion rubles ($2 billion) out of Russia, RAPSI correspondent reports from the courtroom.

A judge clarified that the defendants’ fee revenue from illegal banking activity was estimated at over 611 million rubles ($10 million). Initially, during pretrial investigation they were suspected of siphoning about 169 billion rubles ($2.8 billion) and getting a 846 million-ruble ($14 million) income.

Earlier, prosecutors asked the court to sentence alleged gang leaders, Sergey Magin and Vadim Rybalchenko, to 15 years in prison each.

Not one of the defendants pleaded guilty.

The gang which was comprised of over 400 men has been operating for over five years in different Russian regions, according to prosecutors. The funds were allegedly laundered through several commercial banks which were controlled by the gang and over 100 shell companies registered in Russia and abroad. The money ended up in banks in Baltic states and Cyprus, according to prosecutors.

Magin and Rybalchenko along with other defendants were arrested in 2013.