EBRD probe targets four Russian employees

18th January 2011, Comments 0 comments

Russia and Britain have launched a criminal probe into four employees of the European Bank of Reconstruction and Development, Russia's economic development ministry and the bank said Tuesday.

The EBRD on Tuesday lifted immunity from the four officials, which the bank had granted as an international organisation, "to facilitate investigations by both UK police and by Russian authorities," the bank said.

The four include the EBRD's official Russian board member, Yelena Kotova, who was dismissed from her position in December, the Russian economic development ministry said in a statement.

Kotova was "relieved freed of her responsibilities" as the Russia department director after an internal investigation into possible breaches of the bank's rules of conduct by her and three other employees, the ministry said.

London police are working with the EBRD in the investigation, a police spokesman told AFP.

The officials, who either work or have worked for the bank, were assigned to EBRD by the Russian government, the bank's statement said.

Kotova served as the EBRD's Russia department director since 2005 and was reinstated for her second term in 2008.

© 2011 AFP

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