London traders sentenced to prison for defrauding Russian bank

Two London traders were on Friday sentenced to a total of 19 years in prison after being found guilty of conspiring to defraud a Russian bank of more than £141m.

Georgy Urumov, 37, was jailed for 12 years and Vladimir Gersamia, 33, for seven years after getting involved in a series of complex scams.

The sentences followed a four-month trial at Southwark Crown Court.

Urumov manipulated Otkritie Securities Ltd (OSL) into paying him £20m after joining the Russian-owned company. Urumov used Gersamia, an employee of investment management firm Threadneedle Asset Management, to help cover up the scandal.