Former head of Russia's Deposit Insurance Agency sentenced to 4.5 years in prison
Moscow's Presnensky District Court has sentenced Andrei Melnikov, former head of Russia's Deposit Insurance Agency, to 4.5 years in prison for large-scale fraud. The court found he stole 4 billion rubles using the assets of a Novosibirsk water park.
Moscow's Presnensky District Court on October 20 sentenced Andrei Melnikov, the former head of Russia's Deposit Insurance Agency, to 4.5 years in prison and fined him 900,000 rubles. The agency protects bank depositors' funds and also administers the assets of companies in insolvency proceedings. Melnikov was convicted of large-scale fraud.
What the court found
The court concluded that Melnikov defrauded others of 4 billion rubles through schemes tied to the assets of Aquamir, a water park in Novosibirsk. The water park was in receivership, administered by the agency itself.
In a civil claim, the court sided with Aquamir's former owners and ordered Melnikov to pay about 4.2 billion rubles.
Proceedings and sentence
Melnikov pleaded guilty during the proceedings, so the case was heard under an expedited procedure. With credit for the time he has already spent in custody, he will be able to apply for parole as early as July 2027.
Melnikov was arrested in October 2025. His former deputy, Alexander Popelyukh, who was also under investigation at the time, testified against him. On the day Melnikov was sentenced, Popelyukh received a four-year term in a penal colony in a related case involving the theft of 200 million rubles.
Melnikov had headed the agency since 2022 and was still in the post when he was arrested.
