Spox: Deputy CEO Anatoly Ballo leaves Russia’s VEB

MOSCOW, Mar 18 (PRIME) -- Deputy CEO of Russian state development bank Vnesheconombank (VEB) Anatoly Ballo has quit the post, a spokesman for the bank told PRIME on Friday.

“Ballo no longer works in VEB,” the spokesman said.

According to earlier statements, a criminal case was initiated against Ballo over a theft of U.S. $14 million.

Investigators said Ballo misappropriated part of a loan given to investment fund Yevraziisky to acquire Yugvodokanal, a canal system of water supply and waste systems in the Azov and Black seas basins, and the city of Sochi. The criminal case was cancelled in early 2015.

VEB holds 20% in Yevraziisky, according to Kommersant.

Former CEO of VEB Vladimir Dmitriyev resigned in late February.

(68.5598 rubles – U.S. $1)

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