VELSK, January 24, /ITAR-TASS/. Platon Lebedev, the former chief of MENATEP bank, has been released from colony located near Velsk, Russia’s northern Arkhangelsk region, a spokesperson for the Federal Penitentiary Service for the Execution of Punishments told Itar-Tass.

The Russian Supreme Court reduced Lebedev’s prison term to ten years, six months and 22 days which the businessman had practically served.