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Rosbank CEO, Dismissed Over Bribery Charges, Gets 26M-Ruble Payoff

Rosbank has reached a settlement deal with its former CEO Vladimir Golubkov, who will pocket 26.5 million rubles ($808,300), despite having been arrested on bribery charges and sacked earlier this year, a news report said Thursday.

A judge has approved the settlement, which states that Golubkov's contract with the bank was terminated by mutual consent and that both sides must now drop all claims against each other.

Rosbank, a subsidiary of French bank Societe Generale and one of the country's ten largest banks, dismissed Golubkov after police broke into his office in May and found 5 million rubles on his desk — money that investigators said was a bribe. Golubkov appealed his sacking, saying that he had honestly fulfilled his duties at the bank and that was fired by someone who did not have the authority to do so, Vedomosti reported.

After several months under house arrest, a Moscow court in August ruled to move Golubkov to a pretrial detention facility. The court found that he had violated the conditions of his custody.

The scandal cost Rosbank 52 billion rubles, or almost 20 percent of the bank's corporate deposits, in withdrawals within the first month of the news breaking.

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