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Latvian Assets of Former Bank of Moscow CEO Seized

Real estate belonging to exiled former Bank of Moscow President Andrei Borodin has been seized in Latvia, Russia's Deputy Prosecutor General Alexander Zvyagintsev said in an interview Wednesday with Rossiiskaya Gazeta.

"In that country [Latvia] real estate belonging to the former president of Bank of Moscow, Andrei Borodin, has been seized," he told the paper in an interview, but did not specify what property was involved, or its value.

Russia launched a criminal case against Borodin and his former first deputy Dmitry Akulinin in late 2010 on charges of large-scale fraud involving state funds. They were accused of improperly loaning $443 million to shell companies, which then transferred the cash to Yelena Baturina, the wife of Moscow ex-mayor Yury Luzhkov and the owner of the construction empire Inteco.

(RIA Novosti)

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