Tatfondbank ex-CEO caught withdrawing $15m worth of property
Robert Musin has been charged with a new count.
The Investigative Committee caught Tatfondbank ex-CEO Robert Musin withdrawing property of the organization. During the investigation, a new criminal incidence was revealed. According to the ICR, the ex-CEO and unidentified Tatfondbank officials illegally withdrew collateral property belonging to Urman company with four loan agreements with the bank for the amount of more than 847 million rubles ($15m).
"Eventually, part of credit obligations to the bank was left with no security, which led to the bank's inability to fulfill its obligations to creditors, including the Central Bank of Russia, for more than 207 million rubles ($3.6m)," the Ministry said.
Another criminal case was initiated against Musin under article Abuse of Authority, which has involved grave consequences (part 2 of Art. 201 of the Criminal Code of the Russian Federation).
Earlier, Robert Musin had been arrested on suspicion of especially large scale Swindling (Art. 159 of the Criminal Code), embezzlement of 3.1 billion rubles in the form of a loan from the Central Bank through Tatfondbank. As part of the investigation of the fraud case, police detained Tatfondbank shareholder and General Director of Novaya Neftekhimiya LLC Ramil Safin, as well as Royal Time Group CEO Elena Leushina. Tatarstan Prime Minister Ildar Khalikov retired amidst the scandal.
The Central Bank revoked Tatfondbank’s license on March 3, 2017. According to the Central Bank, the hole in the bank’s balance sheet as of February 1, 2017 was about 96.7 billion rubles ($1.7m). It had been 43 billion rubles ($763m) before the temporary administration was created.