MOSCOW, Aug. 22 (UPI) -- A former president of the Bank of Moscow is suspected of illegally selling shares in an Estonian lender, officials say.
The allegedly illegal sales made by Andrei Borodin caused a $17 million loss to the Bank of Moscow, RIA Novosti reported.
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"The authorities are investigating whether former bank ... President Andrei Borodin sold a stake in Estonia's Eesti Krediidipank legally and reasonably," a law enforcement official said Monday.
The official also noted the sale was made at a very low price while going through an approval procedure.
Borodin has fled Russia and denies accusations against him. He is wanted on an international arrest warrant.