Economic police searching Baltic Bank office in St. Petersburg
National Guard of Russian and economic police are searching the Baltic Bank of St. Petersburg.
Investigators from the Administration for Combating Economic Crimes of St. Petersburg and the National Guard of Russia are conducting searches in the business center on the Professor Potapov street, where the bank occupies several floors.
The current investigative activities are in no way related to the financial business of the bank, the press service of the Baltic Bank reported. The searches are conducted as a part of criminal proceedings against the former CEO, Oleg Shigaev. The bank noted that its employees provide full support to the economic police.
In July 2015, the ex-president of the bank Oleg Shigaev was arrested in absentia. Presumably, Shigaev gave large loans to the trusted companies. The total amount of loans issued is more than 3 billion rubles.
Previously, the credit institution had Alfa-Bank Open Joint Stock Company (88.99%) and Eleks-Nedvizhimost Limited Liability Company (10.99%) as its beneficiaries. Starting October 2015, Alfa-Bank is the sole shareholder of the credit institution (100%).