ST. PETERSBURG, September 20 (RAPSI) – The Primorsky District Court of St. Petersburg has dismissed the investigators’ motion for detention of board chairman of Prime Finance bank Mikhail Tabunov charged with cross-currency embezzlement of hundreds of millions from his financial organization, RAPSI has learnt from the United press service of St. Petersburg courts.

The man has been placed under house arrest until November 5.

Tabunov is also charged with financial document falsification.

According to investigators, since 2015 and almost until his arrest, Tabunov along with unidentified accomplices has taken money from a bank office cash department without completing any documents. An unscheduled inspection has revealed cash shortage in the amount of 106 million rubles, one million dollars and 1.3 million Euros.

Moreover, the alleged criminal forwarded forged documents to a center of bank reporting, case papers read.