Zemlyansky Alexander

Biography

2025: Sentence - 4.5 years in prison for embezzlement of 646 million rubles

On May 27, 2025, the Tushinsky District Court of Moscow sentenced Alexander Zemlyansky, former deputy chairman of the board of Sovereign Bank. He received 4.5 years in prison for embezzlement of almost 650 million rubles from a credit institution.

In April 2016, the Bank of Russia revoked the banking license from Sovereign Bank. The regulator said that this organization pursued a high-risk credit policy related to the placement of funds in low-quality assets. It was also alleged that Sovereign Bank was involved in dubious operations to withdraw funds abroad. At the same time, the management and owners of the credit institution did not take effective measures to normalize its activities. The decision to revoke the license was made in connection with the credit institution's failure to comply with federal laws regulating banking activities, as well as Bank of Russia regulations, taking into account the presence of a real threat to the interests of creditors and depositors. A temporary administration was appointed to Sovereign Bank.

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Фото: Freepik

The internal control rules of the credit institution in order to counter the legalization (laundering) of proceeds from crime and the financing of terrorism did not meet the requirements of the Bank of Russia regulations, the Central Bank reported.

On April 8, 2019, an application was submitted to the Moscow Arbitration Court to bring to subsidiary liability those controlling Sovereign Bank, including Zemlyansky. In addition, the state corporation Deposit Insurance Agency sent a lawsuit against him in the interests of the bank. By a court decision, Zemlyansky was found guilty of embezzlement of funds from a credit institution in the amount of 646.7 million rubles.^[1]

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