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Top Officials At Russia's Sberbank Being Investigated


Sberbank headquarters in Moscow

Sberbank headquarters in Moscow

MOSCOW -- Top officials at Russia's Sberbank headquarters in Moscow are suspected of financial fraud and are under investigation, RFE/RL's Russian Service reports.

Aleksei Shishko, spokesman for the Russian Interior Ministry's Economic Security Department, said that some of the bank's leading managers are alleged to have organized several fraudulent financial schemes in stealing some $109 million and 52 million euros ($72 million).

The state-owned Sberbank (Saving Bank) is the largest Russian bank and the biggest bank in Central and Eastern Europe. It has more than 20,000 branches across Russia with more than 1 million corporate customers and 260,000 employees.

German Gref, who was Russia's economy and trade minister from 2000-07, is the CEO and president of Sberbank.
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