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Head of Russia’s Deposit Insurance Agency Arrested in 4 Billion-Ruble Aquamir Fraud Case

Investigators allege revenue from the bankrupt Aquamir water park was siphoned during asset recovery.

Overview

  • A Moscow court ordered Andrey Melnikov held in pretrial detention for two months, with his lawyers preparing an appeal.
  • Melnikov has been charged under Part 4, Article 159 of the Criminal Code for alleged large-scale fraud and he denies wrongdoing.
  • Case files state that funds from operating Aquamir, tied to the bankrupt VDT Stroy, were meant to repay debts but were diverted.
  • Former deputy Olga Dolgoleva has admitted guilt, and other named figures include Alexander Popelyukh, Evgeny Bogorad and Maxim Ustinov.
  • Central Bank governor Elvira Nabiullina declined to comment on Melnikov’s arrest or potential changes at the agency.