Amount of damage in case into Jugra bank grows from $112 million to $3 billion

Amount of damage in case into Jugra bank grows from $112 million to $3 billion
Aleksey Khotin

None of the defendants in the case - including an ex-head of the bank Aleksey Khotin - pleads guilty.

Amount of damage in a case into theft of funds from Jugra bank that had turned bankrupt has grown from 7.5 ($112 million) to 200 billion rubles (roughly $3 billion), reports Kommersant. All defendants in the case - including an ex-head of the bank Aleksey Khotin - have been accused once again. None of them pleads guilty.

According to Kommersant, in April, 2019, another defendant appeared in the case - an ex-director of the Moscow branch of Jugra Nina Chernova. The investigation theory is that she had been a link between debtors and senior executives of the loan institution. Criminal case against Chernova, as well as a former owner of the bank Aleksey Khotin, its ex-President Dmitry Nefedov, and its chairman of the board Dmitry Shilyaev, into embezzlement on an especially large scale (item 4 of article 160 of the Criminal Code of the Russian Federation) was initiated in June. It was added to the main case where Khotin, Nefedov, and Shilyaev, as well as businessmen Dmitry Lebedev, Sergey Sumenkov, Oksana Yermakova, and Vasily Dorokhin are defendants.

Chernova was detained on June 14. The next day, upon the request by the prosecution, Moscow’s Basmanny district court sent her to a remand prison. The fact that after the criminal case had been initiated against the colleagues, Chernova took steps to get the Schengen visa is considered to have caused the arrest, as it implies she created circumstances to hide from the investigation officers. She was a suspect in a case into complicity in theft of 7.5 billion rubles ($112 million) from Jugra. The investigation theory is that it happened via granting of deliberately unrecoverable loans and non-performing of conditions of loan agreements by debtors - non-payment of per cent and the main loan. On July 20, when the ex-director of the Moscow branch was accused, the amount of damage reached 200 billion rubles (roughly $3 billion). The rest of the defendants have been accused under the same charges.

As estimated by the temporary administration of the bank, at the moment of bankruptcy, in September, 2018, the ‘hole’ in the bank’s capital was 160.9 billion rubles ($2.4 billion). In July, 2017, license was revoked from the loan institution - due to the lack of backup and financing of projects of the bank’s beneficiaries by means of funds of physical entities. The amount of these loans was 90 per cent. At the present time, OOO Vektor prava - that won a competition related to providing of services on work with distressed assets of Jugra - has 470 expired loans worth of more than 247 billion rubles ($3.6 billion). More than 330 suits worth of more than 282 billion rubles ($4.2 billion) were filed with courts.

The bank’s former senior executives are under house arrest. In summer, 2019, lawyers of Khotin, Nefedov and Shilyaev filed an appeal related to the decision of Basmanny court in order to reach the cancellation of it, however after Chernova was arrested, they retracted it. None of the defendants pleads guilty of theft they are accused of. The defendants’ point is that there are no signs of crime. The lawyers of the accused were reported to have turned to the prosecutor general Yury Chaika and the chairman of the Investigative Committee of Russia Aleksander Bastrykin with a request to terminate the case and help change the measure of restraint. The defense team believes the house arrest does not allow their clients to pay the debt. According to a source close to the investigation, the accused have allegedly paid around 16 billion rubles ($240 million).

The investigation is reported to have put CEOs of four companies on a wanted list. These companies had received deliberately unrecoverable loans from Jugra. The amount of the loans were inconsistent with the scale of their activities. This is about CEOs of OOO Building group Sergey Sumenkov, OOO Vostok Dmitry Lebedev, OOO Glavtekhkomplekt Oksana Yermakova, and OOO Kapstroy Vasily Dorokhin. Building group and Vostok did not pay the debts worth of 3.2 billion rubles ($48 million) and 20 billion rubles ($300 million). Two other companies are currently in liquidation.

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