Krivtsov Alexander

Biography

2025: Sentence - 6.5 years in prison for embezzlement of 1.1 billion rubles

On December 16, 2025, the Basmanny District Court of Moscow sentenced Alexander Krivtsov, former deputy chairman of the board of the International Construction Bank (SME). He received 6.5 years in prison in the case of embezzlement of 1.1 billion rubles.

In addition to Krivtsov, the adviser to the chairman of the board Albert Karpov and the head of the analytics and risk management department Ivan Ulyanov were in the dock. The case file says that these persons, acting as part of an organized group, from February 2014 to March 2017 signed contracts for the issuance of deliberately bad loans. As a result, funds totaling more than 1.1 billion rubles were stolen from SMEs. The case was initiated under Part 4 of Art. 160 of the Criminal Code of the Russian Federation (embezzlement).

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Фото: Freepik

In April 2017, the Bank of Russia revoked the banking license from SMEs. The regulator said that this bank had problems due to the use of an extremely risky business model and the poor quality of a significant part of assets due to lending to companies with signs of a lack of real economic activity. The Central Bank pointed to the withdrawal of assets with damage to the interests of creditors and the conduct of "scheme" operations aimed at concealing the real level of credit risk. As a result, SMEs have effectively lost the ability to meet their obligations to creditors in full. At the same time, the management and owners of the bank did not take effective measures to normalize its activities.

Karpov, like Krivtsov, was sentenced by the court to 6 years and 6 months in prison. Ulyanov received 6 years in prison. All defendants will serve their sentences in a general regime correctional colony.^[1]

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