London, May 3 (IANS/RIA Novosti): Britain has refused to grant political asylum to two former officials of a Moscow bank, after they were placed on the Interpol wanted list on charges of fraud involving government funds.

Bank of Moscow's former head Andrei Borodin and his former deputy Dmitry Akulinin were told in late April that their request for political asylum in Britain had been denied, a source told RIA Novosti.

There is no official confirmation, and the lawyers of the former bank officials have refused to comment.

Borodin and Akulinin were placed on the Interpol wanted list after a criminal case was opened against both in 2010.

They are accused of illegally lending $443 million to shell companies which then transferred the funds to Yelena Baturina, the wife of former Moscow mayor Yury Luzhkov and former owner of the construction empire Inteco.

Another case was opened against Borodin and Akulinin in February on suspicion of stealing over $225 million.

Russian prosecutors have submitted a request to Britain for the extradition of both men.