Vdovin Andrei Vadimovich

Biography

2025: Criminal case on embezzlement of ₽1,4 billion from M2M Pryvet Bank

In mid-January 2025, the Russian Ministry of Internal Affairs announced the disclosure of a scheme to steal ₽1,4 billion from M2M Pryvet Bank, which was attended by former chairman of the board of directors Andrei Vdovin, as well as board members Andrei Novikov and Inna Ivanova.

According to TASS, the theft was carried out through the sale of a collection of old coins belonging to Vdovin. The transaction value was artificially overstated by more than three times and amounted to ₽2 billion with a real collection value of no more than ₽550 million.

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Фото: Freepik

The official representative of the Ministry of Internal Affairs of Russia Irina Volk said that employees of the ministry, together with the FSB, detained the suspects. The examinations carried out, including financial and analytical, appraisal, art history and accounting, confirmed the fact of a significant overestimation of the value of the collection of 395 coins.

Two persons involved in the case were charged, one of them was detained, the other was placed under house arrest. The organizer of the scheme, Andrei Vdovin, who, according to investigators, used fictitious documents to inflate the value of the transaction, is on the international wanted list for previously committed crimes.

According to the materials of the case, which is in the proceedings of the Investigative Department of the Ministry of Internal Affairs of Russia, illegal actions were committed in 2016, when the accused, using their official position, organized the conclusion of a sale and purchase agreement between the bank and one of the group members.

The investigation was carried out with the participation of employees of the Main Directorate of Economic Security and Anti-Corruption of the Ministry of Internal Affairs of Russia, the metropolitan police and the FSB of Russia. During the investigative actions, numerous evidence of the unlawful activities of the accused was collected, including the documentation of the transaction, the results of examinations and the testimony of witnesses.^[1]

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