Novokuznetsk bank ex-CEO pays father’s 3-billion debt with depositors’ funds
The NMB former head to stand trial on 3-billion-ruble embezzlement.
The Kemerovo region Investigative Committee has completed the examination into embezzlement of funds by the former head of Novokuznetsky Munitsipalny Bank (NMB) Aleksandr Pavlov, Kommersant wrote. According to investigators, the banker acted in the interests of a company run by his father resulting in the bank losing 3 billion rubles.
The Kemerovo ICR official Nadezhda Ananyeva said Aleksandr Pavlov acted as a credit provider for his father’s construction company Yuzhkuzbasstroy (UKS). Sergey Pavlov’s company owned 99.9% stake in NMB. In mid-2014 UKS was declared bankrupt and the lenders wrote off over 3 billion rubles from the bank’s accounts.
Novokuznetsky Munitsipalny Bank used to be the largest credit institution in the region: it ranked 210 in Russia asset-wise, with over 10.4 billion rubles from 120 thousand depositors kept on its accounts. However, by the end of 2013 NMB ceased to fulfill its obligations: in December 2013 the Bank had 253 payment claims from creditors totaling 15.48 million rubles, and on January 1, 2014 their amount reached 1557. On January 9, 2014 the Bank’s license was revoked and interim administration took over. It was established that the bank's management had used depositors' funds to lend to its own business.
Soon, the company’s CEO Aleksandr Pavlov and VIP department head Svetlana Marchenko were prosecuted on suspicion of Abuse of Authority (Art. 201 of the Criminal Code). The investigation revealed that the suspects transferred Bank-owned 1.041 billion rubles to accounts of offshore companies unbeknownst to the investors resulting in the case classified as Misappropriation on an especially large scale (part 4 of Art. 160 of the Criminal Code). Marchenko made a plea bargain and was sentenced to 4 years with a probation period of 4 years. Besides, the court granted 460-million-ruble claim to one of the victims Mikhail Ryzhenkov.
Examinations have been carried out to establish the authenticity of Pavlov's signatures on all the financial papers. The ex-banker’s property has been arrested, among which is City Mall worth about 5 billion rubles.
The case of NMB embezzlement has been passed on to the Central District Court of Novokuznetsk.