Searches of arrested FSB officials’ properties reportedly reveal more than 12 billion rubles in questionable assets

More than 12 billion rubles ($185.6 million) in rubles, dollars, euros, and valuable material assets have reportedly been found in the possession of Federal Security Service colonel Kirill Cherkalin and two of his subordinates, Dmitry Frolov and Andrey Vasilyev. All three men have been jailed as their embezzlement and bribery cases proceed.

Anonymous sources within Russia’s security services told Kommersant and Rosbalt about the assets, which were reportedly seized during searches. Kommersant also suggested that assets worth about 12 billion more rubles are still in the possession of dummy companies and accounts belonging to the three defendants.

Cherkalin was arraigned yesterday. He was charged with receiving an $850,000 bribe, allegedly in exchange for providing protection to a business. Rosbalt’s source said that the additional assets seized also may have been exchanged in a protection racket involving bank presidents and other commercial figures. Kommersant’s sources suggested that the three FSB agents may also have sold information they received from government and commercial entities under their influence.