OREANDA-NEWS. December 23, 2011. In July 2010, at the iniative of VTB representatives, law enforcement agencies commenced criminal proceedings against Kursk Construction Company, which had misappropriated the Bank's funds. Upon the investigation, a number of persons involved in such misappropriation were arrested, including Viktor Kulikov, former general manager of VTB Kursk branch. On 20 December 2011, the court placed Viktor Kulikov in pre-trial detention.

The Bank emphasizes that it will continue to seek the recovery of misappropriated funds and call for punishment of all persons involved in this crime. VTB provides full support to law enforcement agencies both in the investigation of this case and further prosecution of the Group employees and any third parties committing illegal actions.