Tetro David Semyonovich

Biography

2021: 3.5 years in prison for embezzlement of 3.6 billion rubles from Novikombank

In July 2021, the Zamoskvoretsky court of Moscow sentenced the general director of the United Transport Corporation David Tetro to 3.5 years in prison for embezzlement of 3.6 billion rubles from Novikombank (part of the Rostec state corporation).

The entrepreneur was found guilty of violating part 4 of Art. 160 of the Criminal Code (embezzlement committed by a person using his official position, organized by a group, on an especially large scale).

According to the press service of the Moscow prosecutor's office, citing court materials, it was found that in the period from May 2011 to October 2015, David Tetro, together with accomplices, through the conclusion of deliberately non-refundable loans on behalf of controlled organizations, committed embezzlement of funds of CJSC AKB Novikombank.

Businessman David Tetro received 3.5 years in prison for embezzlement of 3.6 billion rubles Novikombank

Earlier it was reported that the bank issued several loans to OTK and Izhevsk Oil Refinery for a total amount of more than 4 billion rubles. Tetro took a loan to buy the plant. The plant itself is in order to buy Novikombank's requirements for the United Transport Corporation.

Izhevsk refinery was supposed to repay the loan no later than June 2015, and OTC - by September 2017. But the money did not arrive at the bank, and in 2016 the United Transport Corporation was declared bankrupt. The investigation considered that the money from the bank was simply stolen.

Tetro fully pleaded guilty to the crime, a pre-trial cooperation agreement was concluded with him. As TASS reported earlier, citing a source close to the investigation, Tetro gave incriminating testimony to other defendants in the case, including the heads of a credit institution who directly participated in the theft. According to the prosecution, they issued deliberately irretrievable loans for "kickbacks." Tetro also informed the investigation about other crimes committed, including by participants in the theft of money from Novikombank.^[1]

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