Yenisei Bank fails, but where did its billions go?

Yenisei Bank fails, but where did its billions go?
Yenisei Bank failed

The situation looks simple and prosaic: another bank looted through a network of shell firms, with funds of ordinary depositors leaking abroad to the accounts of black bankers. However, Yenisei Bank’s story is in fact much more intricate.

On April 13, the Arbitration Court of the Krasnoyarsk Region granted the Central Bank's statement on the bankruptcy of Yenisei Bank.

Yenisei Bank’s license was revoked on February 9 because of a "high-risk credit policy associated with placing money in low-quality assets." Simply put, Central Bank believes that Yenisei lent money to organizations that were highly likely to fail to repay the debts.

Earlier Central Bank’s audit revealed that being 7.51 billion rubles ($133m), the official value of the bank's assets was much inflated, and the real value was about 1.06 billion rubles ($18.7m). Besides, a 4.8-billion-ruble hole in the budget was found. Recalling other similar cases, it would be safe to say that the hole would soon become a basis for a criminal case on embezzlement on a particularly large scale.

The situation looks simple and prosaic: another bank looted through a network of shell firms, with funds of ordinary depositors leaking abroad to the accounts of black bankers. However, Yenisei Bank’s story is in fact much more intricate. Find more details on how the Krasnoyarsk bank was balancing on the brink of collapse for almost 10 years, where the money actually went, and who is behind its disappearance in CrimeRussia’s exclusive story tomorrow.

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