Kachan Maxims Nikolaevich

Biography

2025: Sentence - 8 years in prison for embezzlement of 2.7 billion rubles

On June 30, 2025, the Second Cassation Court of General Jurisdiction upheld the decisions of lower instances in the framework of a criminal case against the former chairman of the board of Milbank Maxim Kachan. He received 8 years in prison for embezzlement of 2.7 billion rubles from a credit institution.

In February 2016, the Bank of Russia revoked Milbank's banking license. The regulator said that this organization pursued a high-risk credit policy and did not create adequate loan loss provisions for the accepted risks. At the same time, Milbank did not comply with the requirements of the regulations of the supervisory authority on the introduction of bans on the implementation of certain operations aimed at protecting the interests of depositors. The leaders and owners of the bank, according to the Central Bank, did not take effective measures to normalize its activities.

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Фото: Freepik

The case against Kachan and his accomplice Yulia Gavrilenko was initiated under Part 4 of Article 160 of the Criminal Code - misappropriation or embezzlement on an especially large scale. Such acts are punishable by imprisonment for up to 10 years with a fine of up to 1 million rubles. In August 2023, the Zamoskvoretsky District Court of Moscow found these persons guilty of embezzlement on an especially large scale: they were sentenced to imprisonment for 8 years and 5 years 6 months, respectively.

In June 2025, the Moscow Arbitration Court, at the request of the state corporation Deposit Insurance Agency (DIA), banned Kachan, as well as members of the bank's board Igor Nechay, Natalya Markova and Galina Fedorova, from leaving Russia. They are brought to subsidiary liability, the potential amount of which is 3 billion rubles. The reasons for attracting were the issuance of deliberately bad loans and the failure to take measures to prevent the bank's bankruptcy.^[1]

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