UPDATE 2: Court arrests Ananyev brothers in absentia under fraud case

(Rewrites throughout to add details on arrest)

MOSCOW, Sep 10 (PRIME) -- Russia’s Basmanny District Court has arrested in absentia former owners of Promsvyazbank, Alexei and Dmitry Ananyev, under a case on embezzlement of over 66 billion rubles and U.S. $575 million, according to information obtained by PRIME in the court on Tuesday.

The arrest will come into effect if they are detained in Russia or extradited to the country.

Russia’s investigators said that the brothers have committed embezzlement of Promsvyazbank assets in the amount of over 66 billion rubles and $575 million in an organized group in favor of Promsvyaz Capital B.V., the beneficiary owner of which is Alexei Ananyev.

The businessmen, who are believed to have fled Russia, can face up to 10 years in prison.

The government is creating a bank to handle defense order contracts in the conditions of Western sanctions, based on Promsvyazbank, which was bailed out by the central bank from December 2017 through May 2018.

(65.5698 rubles – U.S. $1)

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