MOSCOW, July 29 (RAPSI) – A judicial panel of the Second Cassation Court of General Jurisdiction has upheld sentence passed on the former chair of board of the bank Universaltrust Igor Petrov for embezzling over 53 million rubles ($725,000), the court’s press service told RAPSI.
In September 2019, Moscow’s Zamoskvoretsky District court convicted Petrov, sentenced him to 3 years in penal colony and ordered him to compensate more than 53 million rubles to the credit organization. Later, the Moscow City Court reduced his jail sentence by 3 months.
Petrov pled not guilty to the accusations. According to investigators and prosecutors, after the bank’s license revocation in April 2012, the banker took decisions to issue multimillion loans in cash to the bank employees and managing organizations. Moreover, the bank and a firm under Petrov’s control signed an agreement for the assignment of claim that resulted in the embezzlement of funds from Universaltrust.