Lenenergo ex-CEO facing 6 years of colony for $228m missing on Tavrichesky Bank deposits
The fact that Sorochinsky turned himself in was noted as mitigating circumstances although he did not admit his guilt.
The state prosecutor of St. Petersburg’s Moskovsky District Court requested 6 years of imprisonment for Andrey Sorochinsky and 5 years for his deputy for finance Denis Slepov, reported Fontanka.
We should remind that investigators believe that Lenenergo management misused its powers placing over 13.3 billion rubles ($232m) on Tavrichesky bank deposits (part 2, of Art. 201 of the Criminal Code of the Russian Federation). Between April 2013 and January 2015, the defendants placed the company's money on accounts of the bank, whose financial position was extremely unstable, up to the point that the bank had to be saved from bankruptcy. As a result, the energy company was unable to fulfill its obligations to its contractors in time. Over 10 billion rubles of the enterprise turned out to be blocked until 2035.
The fact that Sorochinsky turned himself in was noted as mitigating circumstances although he did not admit his guilt or recognized the crimes he is accused of. According to him, in December 2014 there were no signals that Tavrichesky was experiencing problems. After a sharp devaluation of the ruble, depositors began to withdraw their money (more than 5 billion rubles) from the bank, which caused liquidity problems. Therefore, Tavrichesky could not terminate the contract with Lenenergo earlier, and soon the Central Bank announced bank resolution.
Explaining his actions, Sorochinsky gave an example of earlier placements in the bank. In 2012, the funds placed on Tavricheskiy deposits raised 296 million rubles, and in 2013 it was more than 600 millions, while in 2013 the amount reached 1.3 billions. Speaking of his resignation in January 2015, he said that he "felt morally responsible for what had happened".
The investigator stated that the money placed in the bank was not free, but reserved for payment of debts to the suppliers.
The ICR has reported on solving the murder of Ilya Pichko, who had been due to testify in the high-profile case of smuggling at the hearing on December 18. The search for the head of Yugo-Vostochnaya Torgovaya Kompaniya began after he failed to appear at the hearing scheduled for December 11.