Moscow court orders arrest in absentia of former VTB bank executive

A court in Moscow has authorised the arrest in absentia of Alexander Ter-Avanesov, a former senior vice president of Russia’s VTB Bank, on charges of large-scale fraud. 

The Meshchansky District Court approved a preventive detention measure of two months, to take effect upon Ter-Avanesov’s extradition to Russian authorities or his detention within Russia, Russian media reports. 

“A preventive measure in the form of detention for a period of two months has been imposed on Alexander Borisovich Ter-Avanesov, effective from the moment of his transfer to the law enforcement agencies of the Russian Federation or from the moment of his actual detention on the territory of the Russian Federation,” the press service of the Moscow City Court said.

Authorities have placed Ter-Avanesov on a wanted list. He has been charged in absentia under Part 4 of Article 159 of the Russian Criminal Code, which concerns fraud on an especially large scale and carries a potential prison sentence of up to 10 years.

Ter-Avanesov served as senior vice president of VTB Bank from 2021 to 2023. He has also held political roles, including as a deputy in the Kostroma Regional Duma, a member of the Federation Council, and a representative in the Parliamentary Assembly of the Council of Europe.

By Sabina Mammadli