Probusinessbank owes $695.8 million to two organizations – Supreme Court
MOSCOW, August 22 (RAPSI) – The Supreme Court of Russia has upheld a ruling of a lower court confirming inclusion of a 46.9 billion-ruble ($695.8 million) debt of Probusinessbank to Express-Volga and Gazenergobank into the creditors’ list, the court ruling reads.
Earlier, over 200 creditors of Probusinessbank challenged inclusion of that debt to into the demands list, stating that it is fictious. According to the creditors, Russia’s Deposit Insurance Agency (DIA) is an interested party in this case, since it received funds for reorganization of Express-Volga.
In March, a lower court upheld inclusion of the debt into the creditors’ demands list.
In June 2017, a high-ranking manager of Probusinessbank Marina Krylova was sentenced to 3.5 years in a penal colony for assisting with embezzlement of 2.4 billion rubles (nearly $43 million at current exchange rate). Krylova was the head of the bank’s department responsible for interaction with shareholders and subsidiary companies. In addition to giving Krylova a prison term, a court ruled to fine her.
On April 26, ex-head of corporate finances department of Probusinessbank Nikolay Alekseyev was given 4 years in prison in relation to the case. His case was reviewed separately because he had pleaded guilty.
Additionally, Alekseyev was fined 1 million rubles (nearly $18,000). The court also granted a lawsuit filed by Probusinessbank, the victim in the case, seeking to collect over 2.4 billion rubles from the defendant.
According to investigators, from September 2014 to July 2015, Alekseyev, acting as the head of the bank’s corporate finance department, conspired with 15 accomplices to embezzle funds belonging to Probusinessbank. Accomplices are believed to be unidentified managers and employees of the bank. Allegedly, they used their office positions to enroll their subordinates, employees of the “Life” financial group, and heads of sham companies.
In August 2015, the Russian Central Bank revoked the license of Probusinessbank, acting upon the results of an inspection revealing that “the bank’s management carried out large scale operations having markings of assets stripping of the bank.”