MOSCOW, July 3 (RAPSI) – Moscow’s Presnensky District Court on Wednesday extended detention of ex-Rosprombank president Sergey Salogubov charged with 730-million-ruble (over $11 million) embezzlement for more than 5 months, RAPSI reported from the courtroom.

The defendant will thus remain detained until December 19.

The trial of Salogubov will begin on July 11.

According to investigators, in 2016, Salogubov and other managers of the bank conspired to embezzle assets of Rosprombank. From August to September 2016, one more top manager Olga Saberova and their accomplices concluded fictious claim assignment agreements, contracts of sale and agreements on compensation. Therefore, they stole bank’s assets worth over 730 million rubles entrusted to Salogubov and caused large-scale damage to the bank, the Investigative Committee’s press service reports.

Saberova has been put on the international wanted list on embezzlement charges.

The Central Bank of Russia revoked the license of Rosprombank in September 2016 for failure to abide by banking legislation. In November 2016, the Moscow Commercial Court declared the financial organization bankrupt.