Prosecutor General’s Office created group of security officers for searches of VEB withdrawn assets

Prosecutor General’s Office created group of security officers for searches of VEB withdrawn assets
Despite multi-billion subsidies, bank finished 2016 at a loss

Representatives of the Federal Security Service (FSB), Ministry of Internal Affairs, Central Bank, Federal Tax Service, Investigative Committee of Russia and Federal Service for Financial Monitoring were included in the group, and its head is one of the Deputies of Prosecutor General.

The group, which was specially created by the Prosecutor General’s Office, is engaged in search of the assets withdrawn from Vnesheconombank (VEB). It is reported by TASS with reference to a source. According to the agency, representatives of the Federal Security Service (FSB), Ministry of Internal Affairs, Central Bank, Federal Tax Service, Investigative Committee of Russia and Federal Service for Financial Monitoring were included in the group, and its head is one of the Deputies of Prosecutor General.

It is noted that the group was created at the end of 2016 and besides search of the assets withdrawn from VEB its members will also be engaged in search and punishment of guilty persons. The last meeting of group took place on May 30, the interlocutor of the agency specified.

To recall, in 2015 VEB lost an opportunity to refinance an external debt because of sanctions and faced financial problems. In 2016 the bank received from the state help in a 150-billion subsidy, renewal of the currency deposit of National Wealth Fund (NWF) on favorable terms, and also nine-months deposits of Federal Treasury on 100 billion rubles.

At the end of 2016 the Audit Chamber published results of inspection of VEB which she carried out in the middle of the year. According to department, any of the strategy of Vnesheconombank operating since 2008 has not been completed at the scheduled time. According to data of bank, the loss following the results of 2016 has made 111.9 billion rubles ($1.9bn), whereas in 2015 VEB has got profit in 14.9 billion rubles ($263m).

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