“In Russia Criminal Justice Often Comes In To Help Sort Out Relations”

Kommersant FM

Former General Prosecutor Yuri Skuratov Answers Questions of Kommersant FM’s Andrei Norkin
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“We know perfectly well that the top managers of our law-enforcement agencies and the special services have very close and informal relations with VTB. Therefore, apparently they turned to them with a request to help in the return of the loan, and thus the wheels of criminal prosecution began to turn. In Russia, it is a widely spread pattern, you know that, I believe, from more than one case, when criminal justice comes in to help sort out relations. Apparently that is why the investment climate in our country is such that no one wants to invest.” Continue reading

Searches at RusTeleCom Head’s Place Must be Accompanied by Searches at VTB, Navalny Says


Searches at one of the shareholders of RusTeleCom, a government-owned company, are not directed against the enterprise per se but concern “individuals” suspected of stealing $225 million from VTB, a government-owned bank, the website of the Ministry of Internal Affairs says. Oppositionist Alexei Navalny has suggested that the investigators together with the RusTeleCom president conduct searches at VTB, which has lost money after issuing a loan to an unreliable organisation. Continue reading

VTB Weight around the Neck of the Bank of Moscow


Bankovskoye Obozreniye, a banking review journal, published an anti-rating of banks with a maximum share of arrears in the overall volume of issued loans in mid-November. The rating treats separately the arrears on loans issued to individuals, companies and the share of arrears in the banks’ total loans.

The survey compares bank data as of 1 September 2012 with similar 2011 figures. Thus it is possible to compare the condition of the Bank of Moscow before its financial recovery was begun by VTB with government money and the comparison shows clearly the result of this operation, which cost taxpayers almost 300 billion roubles. Continue reading

A. Borodin’s letter to State Duma Deputy S. Gavrilov

To S.A. Gavrilov
Committee for Property Issues,
State Duma,
Federal Assembly of the
Russian Federation

Dear Mr Gavrilov,

I have learned with great interest from the media about your initiative on holding a session of the State Duma committee that you chair to consider information and materials of law-enforcement agencies, the Deposit Insurance Agency and the Accounting Chamber of the Russian Federation allegedly concerning misappropriations in the Bank of Moscow. I strongly welcome your initiative and am prepared to provide any possible assistance in its implementation. Continue reading

The ‘Magnitsky List’ could be the only way of fighting for Russian citizens

DailyMail Online

In recent years events connected with Russia and Russian citizens have become a regular feature in the British media. Unfortunately, the frequent appearance of such headlines is not a result of strengthening of friendship and collaboration between the two states. Often these reports accompany scandalous trials in British courts, violation of human rights in the Russian Federation, and so on. For instance, today the Magnitsky Legacy round table sessions are taking place in the Parliament building in London. All this attests to the fact that the Russian justice and law-enforcement systems are in a deep crisis and leave no hope for fair decisions based on compliance with legal provisions or, at least, human rights. Continue reading

Statement by the Defence Team

Because the media have published information that on 6 November the investigation team has issued a new resolution on bringing up charges against Mr Borodin, we state that the resolution in question again refers to the loan issued by the Bank of Moscow to the Premier Estate Company.

It must be stressed that according to said resolution the investigators do not see any violations on the part of Mr Borodin connected with improper use of government budget funds. We will undertake legal actions to make liable the individuals who actively disseminate wittingly false information that the investigators allegedly see such violations. Downright no. Mr Borodin has nothing to do with any abuses involving government budget funds. By contrast, the fact that he raised last year the question on the illegality of “moneyless” privatisation of the Bank of Moscow has already brought billions into the budget and has served as a serious warning to those who commit fraud with government budget money. Continue reading

Regime Intimidates Oppositionist Businessmen


In the opinion of political scientists interviewed by RBC, the regime has deprived the Russian opposition of the opportunity to obtain funding domestically. As is known, funding of political activity from foreign sources is a crime in Russia. Garry Kasparov, a member of the oppositionist forces’ Coordination Council, announced a few days ago that fundraising for protest activity is a priority for the opposition. Continue reading