A Russian court has ordered the head of French banking giant Societe Generale’s Russian unit,Vladimir Golubkov, placed under house arrest over bribery charges.
Rosbank chief, Golubkov, was charged with commercial bribery and will be placed under house arrest until July 16.
The court opted for house arrest despite a request by the investigation to put Golubkov, who is accused of soliciting a $1.5-million bribe from a businessman, into pre-trial detention.
According to reports, investigators released a film of Vladimir Golubkov with cash piled on his office desk, a reason for several bankers to doubt the authenticity of the case brought against the Russian.
Golubkov and his subordinate, Rosbank vice-president, Tamara Polyanitsyna, were charged with bribery after both were detained by police on Wednesday in a dramatic sting operation which found stacks of bank notes laid out on Golubkov’s desk.
The case could increase alarm among international investors and sheds a damaging light on business practices in Russia, where France’s SocGen is one of the few Western banks left in a market dominated by home-grown state players.
