Russian banker Aleksey Frenkel will spend 19 years in prison for organising the contract killing of Andrey Kozlov, Deputy Chairman of Russia's Central Bank.

Aleksey Polovinkin, who carried out the assassination, has been sentenced to life in prison.

Five others convicted in connection with the murder will spend between six and 24 years in jail.

Kozlov’s father is to receive $US 10 million in compensation for his son’s death.

Meanwhile, sources close to Aleksey Frenkel say he’ll appeal against the verdict. 

“There’s no difference between 19 years and life in prison – it’s equally unjust. Of course he will appeal to a higher court. Maybe the supreme court will sort this case out,” Efim Frenkel, Aleksey Frenkel’s father, said. 

Andrey Kozlov was shot dead in Moscow in September 2006.
 
He had been working to revoke the licenses of several banks run by Frenkel, leaving the latter with multi-billion-dollar losses.