SocGen Unit Chief Said Caught in $1.5m Moscow Bribe Sting

The head of Societe Generale’s Russian unit, OAO Rosbank, was detained in a sting operation along with a senior vice president for demanding a bribe from a company seeking to modify a loan, Moscow police said.

Bloomberg reports that Rosbank CEO Vladimir Golubkov was caught in his office counting 5 million rubles ($159,000) of the $1.5m he demanded to prolong a loan and reduce its interest rate, Andrey Pilipchuk, a spokesman for the Interior Ministry in Moscow, said by phone Wednesday.

Golubkov asked a senior vice president to receive the bribe from a company representative who tipped off police before making the final payment, the ministry said in a statement on its website, without identifying the executive by name. The vice president was detained when she accepted the money and then passed the cash to Golubkov after agreeing to cooperate with police, according to the statement.

Golubkov had already received $1.2m from the same company official, according to Pilipchuk. Investigators believe the CEO was trying to make up for a recent pay cut, Pilipchuk said.

Hit the link below to access the complete Bloomberg article:

SocGen’s Rosbank Chief Caught in $1.5 Million Moscow Bribe Sting

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image: © Pavel "KoraxDC" Kazachkov

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