Tatfondbank and Intechbank depositors stormed Tatarstan’s Cabinet of Ministers 

Tatfondbank and Intechbank depositors stormed Tatarstan’s Cabinet of Ministers
Meeting in Kazan

On the morning of March 4, a group of 300-400 affected customers of Tatfondbank and Intechbank issued an ultimatum to the Cabinet of Ministers of Tatarstan, Idel.Realii reports.

The publication reports that the group was moving from the building of the Chamber of Commerce and Industry of the Republic of Tatarstan on Pushkin Street in Kazan. Earlier, representatives of the Ministry of Economy of Tatarstan, Business Support Fund, Tax Service, and other specialists held a meeting with the affected customers of the two banks on this spot.

However, they could not answer the questions of anxious depositors, the outlet notes, so the delegation went to the building of the Tatarstan Cabinet of Ministers to issue an ultimatum to President of Tatarstan Rustam Minnikhanov.

Idel.Realii notes that initially the delegation was not allowed to proceed, and the police arrived. Then several persons were admitted, after which the delegates handed a petition to the Prime Minister of the Republic Ildar Khalikov, demanding to return their money. The prime minister received the document and said he would transfer it to the President of the Republic.

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In their ultimatum, Tatfondbank and Intechbank clients demanded that the Central Bank's decision on revocation of licences was challenged, and the depositors reimbursed. The depositors demanded that these issues were resolved within three days.

Let us recall that on March 3, the Central Bank of Russia revoked licenses of Tatfondbank and Intechbank for violation of the Central Bank's standards. Both banks had a capital adequacy ratio of less than 2% of the required 8%.

Head of Tatfondbank's Board of Directors Robert Musin was arrested by court on charges of swindling on the same day. A criminal investigation into the embezzlement from Tatfondbank was initiated in February. Deputy Chairman of Tatfondbank Sergey Meshchanov and Vadim Merzlyakov, Head of TFB Finans Timur Valshin, and his subordinates Rustam Timerbaev and Ilnar Abdulmanov were also detained as part of the investigation.

Video: TFB customers storming Tatarstan Cabinet of Ministers

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