Will Energy Minister’s ex-deputy once again avoid criminal case?

Will Energy Minister’s ex-deputy once again avoid criminal case?
Stanislav Svetlitsky

The Energy Minister’s Former Deputy Stanislav Svetlitsky was taken into custody on suspicion of depositors’ funds embezzlement. Svetlitskydenieshisguilt.

On June 26, the Energy Minister’s Ex-Deputy, now the president of "Evraziysky" JSC Stanislav Svetlitsky by the decision of the Leninsky District Court of Rostov-on-Don has been taken into custody for 2 months. The former official became a defendant in a criminal case under Part 4 of the Art. 159 of the Russian Criminal Code. He vehemently denies his fault.

Two days before the decision on Svetlitsky’s arrest, he was detained right in his office, in the Rostovvodokanal, which is part of the structure of Evraziysky. Thepresidentof Evraziysky left the building in handcuffs.

According to Kommersant, Svetlitsky was taken into custody in the course of the investigation on the circumstances of the withdrawal of depositors’ funds from the Narodny Credit bank, whose clients were the regional water utilities in the South of Russia, in particular, the Evraziysky Rostovvodokanal, Yugvodokanal and Sochivodokanal.

Svetlitsky, who was one of the owners of the Narodny Credit, has sold his stake about six months before the bank's license was revoked and it went bankrupt. After that, the bank came under the management of the Deposit Insurance Agency which was forced to pay 15.2 billion rubles the depositors.

In February 2015, the Bank of Russia contacted the MIA with a request to give a legal assessment of the thefts of property and abuse of power by the management of a financial institution when issuing loans to legal entities, identified during the inspection of the bank’s accounts. The inspection has found illegal transactions made during the acquisition of the bank bills. Moreover, the Ministry of Internal Affairs saw that the bank’s bankruptcy was not accidental: everything pointed to the fact that it was planned in advance. The Central Bank considered that the violations found indicate that in the activity of the Narodny Credit there are signs of several crimes under the articles 159 (fraud), 160 (embezzlement), 201 (abuse of power) and 196 (intentional bankruptcy) of the Russian Criminal Code .

Svetlitsky’s lawyer Alex Dulimov did not comment on the accusations, saying only that it "has no documentary evidence", as reported by Kommersant.

Note that the arbitration courts’ database contains information of the claim of Narodny Credit to the LLC Enkom, whose co-owner at the time was Svetlitsky, demanding a refund. In 2014, the bank opened a credit line in the amount of 30 million rubles until February 2019 at 16% per annum. However, after receiving a little more than half of the approved amount, the defendant has ceased to repay the loan, thus owing 17.7 million rubles. The court satisfied the claim in full and ordered to return the full amount of the loan, but it was impossible to collect the debt: the company Enkom was declared bankrupt, and the amount of its assets barely exceeded 9.7 thousand rubles.

Earlier, Svetlitsky already was involved in the criminal case. In 2012, he was indicted on charges of embezzling $ 14 million from a loan allocated by Vnesheconombank to Evraziysky JSC. Apart from Svetlitsky, in the case, a member of the Board of Evraziysky, Alexander Lagutin, and the first Deputy Chairman of Vnesheconombank Anatoly Ballo, also featured. Initially, the investigators believe that VEB has allocated $ 75 million to Evraziysky for the purchase of Yugvodokanal, but part of the money was siphoned off by the management into to the offshore jurisdictions. A year later, the case was closed, and the charges against the defendants were dropped due to the lack of evidence.



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