The head of Societe Generale's Russian unit was facing up to seven years in prison after investigators charged him Thursday with soliciting a $1.5-million bribe in what one banking source said was a possible setup to muscle the French lender out of the country.
A person walks past a Rosbank branch in Moscow, on May 15, 2013. The head of the French banking giant Societe Generale's Russian unit was Thursday facing up to seven years in prison after investigators charged him with soliciting a $1.5-million bribe from a businessman.
The detention of Rosbank chief Vladimir Golubkov has sent shock waves through Russia's banking community, and a senior Western banker said the arrests appeared to be a state-orchestrated move to drive out Societe Generale amid a Kremlin drive to consolidate strategic assets.
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