Andrei Melnikov headed Russia’s agency tasked with protecting bank depositors. Now he’s been sentenced to 4.5 years in prison for a 4 billion-ruble fraud.
Moscow’s Presnensky District Court sentenced Andrei Melnikov, the former head of Russia’s Deposit Insurance Agency, to 4.5 years in prison and fined him 900,000 rubles.
Melnikov was convicted of large-scale fraud. The court found that he stole 4 billion rubles through schemes involving the assets of Aquamir, a Novosibirsk water park in receivership administered by the agency.
The court also ruled in favor of Aquamir’s former owners in a civil claim against Melnikov, ordering him to pay about 4.2 billion rubles.
Melnikov pleaded guilty during the proceedings, and his case was heard under an expedited procedure. With credit for time spent in custody, he will be eligible to apply for parole as early as July 2027.
Melnikov was arrested in October 2025. His former deputy, Alexander Popelyukh, who was also under investigation at the time, testified against him. On the day Melnikov was sentenced, Popelyukh received a four-year sentence in a penal colony in a related case involving the theft of 200 million rubles.
Melnikov became head of the Deposit Insurance Agency in 2022 and was still leading it when he was arrested.
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