Bank of Moscow
Encyclopedia
The Bank of Moscow is the fifth largest bank in Russia.In 2011, following a hostile takeover by VTB Bank, USD$ 9 billion in fraudulent loans were discovered and the bank received an unprecedented $14 billion bailout. Russia has issued an international arrest warrant for Andrei Borodin
for his suspected role in the fraud.
Andrei Borodin
Andrei Borodin is a prominent Russian financier, economist and businessman who until 2011 was President of Bank of Moscow. His ousting as President was precipitated by the takeover of Bank of Moscow by VTB, a Russian state-controlled bank. Borodin has argued that the takeover was politically...
for his suspected role in the fraud.