A banker claims that Russian police deliberately misinform foreign colleagues

Ex-Bank of Moscow CEO Andrei Borodin has accused Russian police of deliberately distorting facts in the decision to initiate his prosecution and to arrest his foreign assets.

"The attack on me continues. They present either old or unreliable information," Borodin told Interfax by phone on Wednesday night.

Borodin had been the Bank of Moscow head since the moment of its establishment and a major shareholder. VTB acquired 46.5 percent in the Bank of Moscow from the city government in early 2011 and had an altercation with the previous management as a result of which Borodin left the country. After he was gone, Bank of Moscow financial problems were highlighted in relation with massive crediting of entities affiliated with the bank executives.

In the end, the Central Bank, the Deposit Insurance Agency and VTB decided to start financial recovery of the bank. The Deposit Insurance Agency granted a ten-year loan of 295 billion rubles, while VTB Group added 102 billion rubles to its capital. That was the most expensive financial recovery in the modern history of Russian banks. Borodin said the problems of the Bank of Moscow were exaggerated in the interests of the new owner.

The Moscow Tverskoi District Court ordered in absentia the arrest of Borodin on abuse of office charges in May (the accusation was later changed to fraud). The banker, who had moved to the UK, was put on the international wanted list.

Borodin came into the media limelight in the past few weeks, first, in connection with the "Anatomy of Protest-2" documentary, which called him a Russian opposition sponsor, and then in connection with the seizure of assets and several criminal cases abroad (in Estonia and, according to unverified reports, in the Bahamas). The Bank of Moscow laid additional claims for 85 billion rubles to its former chief.


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