Austria to extradite Russian bank chairman on embezzlement charges
Gitelson is accused of using forged documents to embezzle $80 million from Bank VEFK between May 2007 and October 2008. Bank VEFK-Ural declared bankruptcy in 2009, Ural Business Consulting reports.
Gitelson fled to Austria in 2008 after being confronted by the Inkasbank supervisory board who attempted to recover $60 million at the time. Gitelson was arrested by Austrian authorities in April 2013, according to Ural Business Consulting.
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