Ex-president of Globex Bank detained on embezzlement allegations
MOSCOW, November 16 (RAPSI) – Moscow’s Basmanny District Court has detained ex-president of Globex Bank Vitaly Vavilin until January 14 as part of embezzlement case, RAPSI has learnt in the court’s press office.
Vavilin could face up to 10 years in prison if convicted.
Earlier, the former banker was questioned as a witness in several cases related to Globex Bank.
Established in 1992, Globex Bank is one of major Russian banks with most of its shares (99.9 percent) owned by the state-run Bank for Development and Foreign Economic Affairs.