The top manager is accused of particularly large-scale fraud and money laundering. The process will be carried out in absentia, because Bulochnik has been hiding abroad since 2016 and is wanted. The case against the banker was initiated in 2016. At first he was involved in a case of deliberate bankruptcy of Master Bank, and later two more articles were added.
According to investigators, from July 2011 to November 2013, Bulochnik, together with other bank managers and its employees, withdrew almost 4.5 billion rubles from the financial institution. For example, the investigation considers it proven that non-repayable loans were provided to 70 individuals who did not actually receive the money. Loans were also issued to four fictitious companies, the prosecution believes.
At first, the damage caused by the bank’s management was estimated at 17 billion rubles, and then it grew to more than 62 billion rubles.
Investigators also believe that Bulochnik was involved in laundering money stolen from his bank’s depositors. To do this, he bought works of art abroad and then donated them to the foundation. In 2018, law enforcement officers arrested paintings and drawings Nicholas And Svyatoslav Roerichs and memorial items from the artists’ family, donated by Bulochnik to the International Center of the Roerichs (ICR). The arrest was later partially lifted.https://musicnewsfirst.com/