MOSCOW, August 15 (RAPSI) – The Commercial Court of the Volga District has upheld lower courts’ refusal to include a 21.5-billion-ruble (about $325 million) debt of ex-Tatfondbank chairman Robert Musin into the creditors list, according to court records.
Earlier, the bank’s claim was dismissed twice.
In May, the procedure of sale of Musin’s assets was extended for 6 months.
On July 18, 2018, the court granted a motion of Tatfondbank and declared Musin bankrupt.
Earlier, the court initiated a procedure of restructuring Musin’s debt. The DIA sought 16.7 million rubles ($255) from the banker.
Notably, Musin is charged with embezzlement. According to investigators, in August 2016, employees of the bank provided false data to the Central Bank of Russia to obtain a credit and subsequently embezzle the funds. Later, the money was transferred to the accounts of affiliated companies.
Investigators believe that overall damage in criminal cases against Musin reaches 50 billion rubles (about $765.6 million). Thirteen cases over abuse of office opened against Musin are allegedly connected with embezzlement of 18 billion rubles ($275.6 million) belonging to Tatfondbank.