Head of Novatsiya bank accused of illegal financial transactions

Head of Novatsiya bank accused of illegal financial transactions

The criminal case against Chairman of the Novatsiya PJSC Joint-Stock Commercial Bank’s board Vitaly Miroshnichenko is investigated in Maykop by the ICR Investigations Directorate for the Republic of Adygea.

The top manager of the bank, the license of which was revoked in January 2017, is charged with abuse of official powers (part 2 of Art. 201 of the Russian Criminal Code), Kommersant reports.

According to the investigation, Miroshnichenko had single-handedly decided to grant loans without collateral to co-owner of Dil Bank Kirill Saltykov, co-owner of Sadko-Finans MC Aleksandr Blinov, and a number of legal entities, not actually engaged in economic activity, including RegionTrade LLC, Yugstroyindustriya, Yamal, and others, without consulting with members of the Novatsiya PJSC's Credit Committee.

The ICR believes that it was due to the actions of its head that the bank's licence was revoked by the Central Bank, and the amount of liabilities to creditors (1.761 billion rubles = $30,923,160) at the time of its revokation exceeded the value of assets by 690 million rubles ($12mln).

In January 2017, the Central Bank of Russia withdrew Novatsiya's license due to the above-mentioned illegal actions of the top manager on issuing unsecured loans. The suspect top manager has been taken into custody; he does not plead guilty. Vitaly Miroshnichenko’s lawyer Aleksey Avanesyan believes he had been acting solely in the interests of the bank.

Kommersant notes that Miroshnichenko complains about the harsh conditions in jail; despite having chronic respiratory diseases, he is not transferred to the cell for non-smokers, which is available in prison. Lawyers have asked the court to replace the defendant's measure of restraint with house arrest, but it upheld the decision.

It it noteworthy that other defendants in the case, the credit users Kirill Saltykov and Aleksandr Blinov, are also accused of embezzling the funds from Blagovest Non-State Pension Fund. The Blagovest criminal case is investigated by the ICR Main Investigations Directorate in Moscow.

Tags: Banks
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