Andrey Borodin’s defence appealed against charges of fraud. According to the lawyer of the former Bank of Moscow president the investigation committed violations of law

Business FM

Former Bank of Moscow head Andrey Borodin’s defence appealed against the charges of embezzlement of bank funds, lawyer Mikhail Dolomanov told BFM.ru.

Dolomanov noted that the charges contain no other counts besides the issue of loan to “Premier Estate”. According to the lawyer, an extension of a secured  loan cannot be regarded as a reason for criminal prosecution of the banker. The lawyer pointed out that Bank of Moscow received more than 58 hectares of Moscow land as collateral. Mikhail Dolomanov said that “Premier Estate” was paying interests, while part of the loan was repaid in advance. Continue reading

Healthy by International Standards. Bank of Moscow Uses Financial Statements to Patch Hole

Kommersant 

Yesterday, experts were unanimously stunned by the Bank of Moscow H1 international financial statements, which were to have come out poorly – after all the bank’s new owners, VTB Group, had repeatedly referred to the vast scale of problems in the bank. The gaping hole in the Bank of Moscow balance sheet, something that VTB has asked for RUR 295 billion from the Government to fix, did not appear in the IFRS statements. The problem loan portfolio is safely covered by the reserves that more than double it in size. Continue reading

“It is all within the framework of politically motivated cases”. The complaint of Andrey Borodin’s lawyers was dismissed.

Moskovskiye Novosti

On Friday, Tverskoy Court of Moscow dismissed the complaint of the former head of Bank of Moscow Andrey Borodin’s defence. Lawyer Vladimir Krasnov was requesting to eliminate the violations committed in the course of preliminary investigation. A day earlier the same court refused to even take into consideration a slander complaint, filed by the lawyer on behalf of the former president of the bank against the Investigative Department of the Interior Ministry.  Continue reading

“The fate of Bank of Moscow was decided at the highest level.” Andrey Borodin’s lawyers file a claim for defamation of their client and require to eliminate violations

Moskovskiye Novosti

Tverskoy court of Moscow will consider a complaint from Andrey Borodin’s defence. Andrey Borodin’s lawyer, Vladimir Krasnov, told Moskovskiye Novosti that they demand to eliminate irregularities in the preliminary investigation. The defence also filed a claim against the Ministry of Interior Affairs of the Russian Federation for defamation of their client. Continue reading

Putin Reminds VTB Chief of Need to Protect Rights of Bank of Moscow Minority Shareholders

RIA NOVOSTI

MOSCOW, October 6 – RIA NOVOSTI. The Russian authorities view protection of minority shareholders as a key avenue of improving the business environment, said RF Prime-Minister Vladimir Putin on Wednesday after disagreeing with VTB Chief Andrei Kostin to the effect that the matter was irrelevant and after reminding him of the Bank of Moscow situation.

After it acquired a 46.48% stake in the Bank of Moscow last February, VTB was to have made a buyout offer to minority shareholders since the 30 percent barrier had been cleared. However, VTB “circumvented” the requirement. As a result, more than six months later, VTB bought shares from some of the minority shareholders thus raising its stake to 80.50%. Continue reading

Special Presidential Envoy Named Source of Contract to Kill Businessman

Infox.ru 

The family of businessman Andrei Burlakov who was shot and killed at Moscow’s Khutorok cafe on September 29 have asked Head of Russia’s Investigative Committee Alexander Bastrykin to elevate the investigation to the federal level. The daughter of the victim has stated that the individuals involved in the attempted murder [sic - transl.] have vast financial resources and are in a position to influence the investigation.

It has been claimed that Igor Yusufov, former Special Presidential Envoy for Energy Cooperation, put out the murder contract. “Based on information received from my father and Anna Etkina (his common law wife) I assume that this murder was contracted by Former Special Presidential Envoy for Energy Cooperation Igor Khanukovich Yusufov,” says the statement, according to Izvestia. Continue reading

The return of President Vladimir Putin will be bad news for Britain

By Con Coughlin, The Telegraph

I fear that Vladimir Putin’s confirmation that he is to seek re-election as Russia’s president does not bode well for the future of Anglo-Russian relations. Within days of Mr Putin declaring his intention to re-occupy the Kremlin the first warning shot has been fired at Britain in the form of an official demand for Britain to extradite 43 Russian citizens who have fled to the UK.

The Russian ambassador, Alexander Yakovenko, claims the mass extraditions will help to improve relations between the two countries. I regard it as nothing more than a blatant act of intimidation against David Cameron following his recent, inconclusive, visit to Moscow.

The main purpose of Mr Cameron’s visit was to initiate a thaw in the frosty relations that have existed between London and Moscow ever since Russian intelligence officers were implicated in the 2006 assassination of dissident ex-KGB officer Alexander Litvinenko, who was poisoned with polonium at a London hotel. Russia has consistently refused to hand over Andrei Lugovoi, the main suspect in the case.

But rather than making any admission of guilt, the Russians have resorted to their usual bully-boy tactics by demanding that Britain extradite the exotic assortment of Russian billionaires and pro-democracy campaigners who have sought refuge in London.

The latest senior Russian official to fall foul of the Kremlin is Andrei Borodin, the former chief executive officer of the Bank of Moscow, who has gone into hiding after the Russian government accused him of irregularities relating to a $400 million loan.  But Mr Borodin claims he is the victim of a politically-motivated takeover of the bank. Continue reading