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Parents of a six-year-old child, they both faced charges related to an intricate scheme orchestrated by Urumov and a couple of colleagues to siphon millions of dollars from Otkritie Financial Corp. through fraudulent Argentine bond trades and bonus manipulation. Proceeds from the 2010-2011 scam were used to fund their luxurious lifestyles. For Urumov and Balk, in their early 30s at the time, that included paying for a 19 million-pound ($24 million) house on one of Londons most-prestigious streets. Their fairy tale of opulence ultimately proved short-lived when Urumov found himself at the center of a six-year legal battle that implicated his wife and has since left the former millionaire completely broke. Last week, a jury let Balk walk free and Urumov, now 37, was handed one of the longest sentences ever received by a banker for fraud in the U.K. Vladimir Gersamia, formerly of Threadneedle Asset Management, was also slapped with a seven-year jail term. The tale of how Urumov went from being a star trader whose CV boasted stints at HSBC Holdings Plc and Lehman Brothers Inc. to a criminal entangled in what a judge three years ago dubbed “a brazen and carefully orchestrated deceit” begins and ends with greed. Stealing Money The year before Urumov started stealing money from Moscow-based Otkritie, he earned $2 million including bonuses as executive director for emerging markets fixed-income at Knight Capital Europe Ltd.

http://www.msn.com/en-us/money/markets/how-a-russian-bankers-dollar25-million-bonus-led-to-12-years-in-jail/ar-AAmooCU?li=BBnb7Kv

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