Russian Police Officers Sentenced for Stealing Millions from Garantex

Three senior police officers in Russia have been sentenced to lengthy prison terms for embezzling millions of rubles from clients of the now-defunct cryptocurrency exchange Garantex.

The convicted officials, former employees of the Moscow police, had accepted bribes, produced forged documents, and abused their office to steal funds from Garantex customers. They were also found guilty of large-scale fraud, as they used fake complaints and court orders to freeze assets and transfer money to accounts controlled by their associates.

The main charge against the officers was related to the embezzlement of over 30 million rubles (approximately $350,000) from Garantex customers. The Butyrsky District Court in Moscow sentenced Bakhtiev to 14 years in prison and his accomplices to 12 years each, with each also being fined 6.5 million rubles.