Tatfondbank ex-head charged with 19 offences
The bankruptcy manager is actively working to terminate transactions the bank made while in financial strains.
Criminal proceedings on 19 offences have been started against Robert Musin, Tatfondbank ex-chairman of the board, under part 4 of Art. 159 of the Criminal Code (Swindling) and part 2 of Art. 201 of the Criminal Code (Abuse of Authority). The bankruptcy manager and the Central Bank exposed all of the offences and the investigation continues, according to REGNUM News Agency citing the manager’s report.
Currently, the detectives are investigating the offences that involve embezzlement, property theft with bogus loan agreements, as well as substitution of claims for loans on Tatfondbank bonds and termination of collateral agreements. Three more bank employees have been charged with cash theft.
The Investigative Committee reported in August that 13 criminal cases against Musin had been initiated. Some other offences have been seen in the activities of the ex-chairman of Tatfondbank board. The total damage the Tatfondbank official has done exceeded 50 billion rubles ($874m).
The bankruptcy manager is actively working to terminate the deals made while the bank was in financial strains. Under the bank’s previous administration, the share of the Tatarstan Republic in it was about 41% both directly and indirectly.
According to the investigation, in August 2016 Tatfondbank managers provided the Central Bank with fictitious reports so that they got a highly liquid asset for obtaining a loan and subsequently were able to steal the funds. As a result, the bank received 3 billion rubles from the Central Bank, which were later transferred to the accounts of Tatfondbank-affiliated organizations. Deputy Chairmen of the Bank Sergey Meshchanov and Vadim Merzlyakov, head of TFB Finance Timur Valshin and his subordinates Rustam Timerbaev and Ilnar Abdulmanov had been detained earlier. The Bank of Russia revoked the Tatfondbank’s license on March 3, 2017.
The troubles in the republic’s most prominent bank caused a wave of financial instability in other credit institutions. 2017 has left Tatarstan with six fewer banks: they all had their licenses revoked and were declared bankrupt.
Karina Tsurkan was taken under arrest on suspicion of espionage. The board member of Inter RAO turned out to be a Russian national as opposed to the earlier claims that she was a Moldovan one. She gave up her Moldovan passport two years ago.
Nana Hernandez Getashvili, architect accused of stealing money from Rostec head Chemezov, no longer under in-absentia arrest
The Europe’s best architect of 2014 and 2015 in three nominations in a prestigious international competition in London is accused of two counts of major fraud. The total damage from the fraud is estimated at about 10 million euros.
The clampdown on the ‘Baltic laundromat’ hasn’t destroyed the global cash-out market. ‘Black cash’ is still laundered at the state level. Apparently, the main money laundering hub is currently located in a small Central Asian country – Kyrgyzstan. Ethnic criminal groups operating in Russia, Europe, and Central Asia use it to legalize their shady proceeds. Revenues generated by the illegal business are estimated at $500 million per year. However, it is impossible to covertly launder money on a global scale. Is the national political establishment involved in the criminal schemes?