[3] He and his first deputy Dmitri Akulinin were dismissed from office by the court for the period of the investigation due to the Premier Estate criminal case, charged with abuse of authority.
[5] Since April 2011, Borodin has lived in London, England,[6] and since November 2011 until May 2016[7] has been on an Interpol Red Notice, wanted as a suspect in a 13-billion-rouble fraud committed in Bank of Moscow under his governance.
[18] What became one of the biggest players in Russian banking began as a six-person operation founded in 1995 by the Moscow City Government, which originally held a 51% stake.
The bank became increasingly independent of the City Government, which in 2008 reduced its stake to 46.6%, with a corresponding reduction in the number of bank-appointed directors.
[21][22][c] Bank of Moscow enjoyed the confidence of the international markets, with both Goldman Sachs and Credit Suisse acquiring small stakes in 2010 (3.88% and 2.77% respectively).
[citation needed] Borodin claims that peculiarities during the takeover point to the centrality of political as opposed to commercial concerns.
After the takeover, VTB and finance minister Alexei Kudrin (who was the head of Supervisory Council of VTB during the takeover) announced that the bank's former management, led by Andrei Borodin, created a "large, special portfolio loan book" totaling 366 billion roubles to lend to itself and related parties.
[37][38] In February 2012, Russia's Interior Ministry has opened a new criminal case against Borodin and Dmitry Akulinin, over the theft of 6.7 billion roubles at the Bank.
As a result of transactions with the securities from October 2010 through March 2011, the control over City Insurance Group passed to an offshore company, which caused a 1,708,635,380-rouble damage to the Bank of Moscow and its affiliates.
[40] In October 2012, Russian investigators froze Borodin's assets, over $400 million, held in bank accounts in Switzerland, Belgium, Luxembourg.
[44] Speaking to Vedomosti newspaper on 1 March 2013, he said he had been granted political asylum in the UK "a few days ago" after his lawyers submitted a request.
He also accused Russian Prime Minister Dmitry Medvedev, who was the country's president when the criminal case was launched, of being the "chief initiator of all this persecution and hounding".