Belov Vasily Yuryevich

Biography

2025: Sentence - 6.5 years in prison for embezzlement ₽80 million

Former chairman of the board of directors and board of JSC Kranbank Vasily Belov in May 2025 was sentenced by the court to 6 years and 6 months in prison in a general regime correctional colony for embezzlement of more than ₽80 million from the bank. The convict's accomplices received sentences of 3 and 4.5 years in prison, respectively.

According to TASS, a criminal case under Part 4 of Article 159 of the Criminal Code of the Russian Federation (fraud on an especially large scale) was initiated based on the results of a prosecutor's check. The verdict was passed taking into account the position of the state prosecutor, which was confirmed by the press service of the regional prosecutor's office.

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Фото: Freepik

The court found that in 2019 Vasily Belov concluded a number of fictitious real estate lease agreements, allegedly for the needs of a banking organization. On the basis of these documents, more than ₽80 million belonging to the bank were transferred and stolen to the accounts of persons controlled by him.

In addition, the convict, together with the head of the bank's lending department and one of the clients, withdrew the organization's funds in the amount of about ₽30 million under the guise of loans, which were initially deliberately non-refundable.

In December 2019, the activities of Kranbank JSC were terminated due to the revocation of the license. Financial fraud uncovered during the investigation became one of the reasons for the bankruptcy of the credit institution.

The judgment continues a series of convictions against bank executives involved in embezzlement of financial institution assets. Such cases demonstrate the increased attention of law enforcement agencies to the financial transparency of the banking sector and the protection of the interests of depositors.^[1]

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