Russia summons Bank of Moscow chief in fraud probe

6th April 2011, Comments 0 comments

Russian police investigators on Wednesday summoned the president of the powerful Bank of Moscow for questioning in a probe into a fraudulent loan, the RIA Novosti news agency reported.

The bank chief, Andrei Borodin, was on Tuesday reported by Russian news agencies to have fled the country in fear of a criminal prosecution in the probe into a fraudulent $415 million loan, quoting sources in banking circles.

The Bank of Moscow was created by the previous Moscow mayor Yury Luzhkov, who was sacked in September, and became the country's fifth largest bank after gaining Russia's wealthiest city as a client.

© 2011 AFP

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