Don-Stroy To Develop One Million Square Metres On Baturina’s Land

Comment by Andrey Borodin: Here’s another proof of the fact that allegations and convictions against me and my colleagues are utter nonsense. A plot of land that was used as collateral against the loan granted by Bank of Moscow and according to Russian state prosecutors was worthless turns out to be an investor’s Klondike.

Vedomosti

As Vedomosti learnt, in December 2016, Moscow’s Urban Planning and Land Commission approved a development project of 160 hectares of the areas located within the territory between Lobachevsky Street, Moscow to Kiev Railway, Michurinsky Avenue and the Ramenka River. An official of the Moscow City Government said over 1.3 million sq. m. of real estate assets are planned to build here. The bulk of the development project will affect a 58-hectare plot that was previously owned by Elena Baturina and became the subject matter of a number criminal proceedings involving the Bank of Moscow, said an unnamed source close to the Bank. 1,15 million square metres are to be developed there. Konstantin Timofeyev, the chairman of Moskomstroyinvest, or Moscow’s Development and Investment Commission, said that CJSC Don-Stroy will be the investor of the project. Continue reading

“Premier” class Dachas

Comment by Andrey Borodin: Yet another testimony of that the most outspoken corruption fighters from among civil servants can often themselves stand at the top of corruptionist ratings.

Novaya Gazeta

Charitable funds connected with fellow students and relatives of Dmitry Medvedev are investing billions of roubles in development projects.

Many of us go in for collection – and the object of collection depends on the person’s resources. Even if one has no money at all, he can collect match boxes or beer lids. With greater resources, one can concentrate on antiques, works of art, or old automobiles. But only superstars may allow themselves to collect dachas. In the West, they are sports or show-biz stars, and in our country they are also politicians. Continue reading

Andrey Borodin: “There Are No Damages At All”

Forbes

The former head of the Bank of Moscow calls the charges of misappropriation of a billion roubles “a new fabrication of the investigators.”

The Russian Interior Ministry Investigation Department has brought new charges against the former top management of the Bank of Moscow. The former bank president Andrey Borodin, first vice president Dmitry Akulinin and vice president Alexei Sytnikov are charged with misappropriation and embezzlement of more than 1 billion roubles. In the theory of the investigators, from 2008 until 2010, a group of the bank’s top managers and employees organized by Borodin was practicing “misappropriation of entrusted funds through fictitious contracts for purchase and sale of foreign currency and illegally obtaining the difference between the rates in roubles”.

The first case against Borodin and Akulinin was opened in late 2010 – the bankers were accused of fraud with funds from the municipal budget in the amount of 12.76 billion roubles. Borodin and Akulinin were internationally wanted, but the United Kingdom gave Borodin political asylum (The Russian Interior Ministry claims that the same happened to Akulinin). In an interview with Forbes, Borodin spoke about why he considers the charge an invention of the investigators, what he did at the secret lunch of the Russian sponsors of the Conservative Party and what he thinks about possible extradition to Russia. Continue reading

General Prosecutor Talks About Unlawful Arrests

Commentary by Andrey Borodin: This is a curious confession by the general prosecutor of the Russian Federation. If he is citing such information, then the problem is too obvious and the real scale of the disaster may be greater by a factor of 10.

Lenta.ru

More than 4,600 persons have been unlawfully detained or arrested in Russia over the past three years. The RIA Novosti news agency reports on 12 February that the information has been provided by general prosecutor Yuri Chaika. “People have been in detention for years,” the head of the overseeing department said. Continue reading

VTB Capital To Introduce Austerity Measures

A comment by Andrei Borodin: That is how personal ambitions of a “banker of the decade” eat up shareholders’ funds. This is not the first case and obviously not the last.

Vedomosti

VTB Capital’s international business may be earning five times less than what the shareholder is expecting. This may lead to a reduction in force and abandonment of low-income operations.

The expenditures of VTB Capital International have grown to 95 per cent of proceeds, which requires a reduction of business areas and personnel, Atanas Bostanjiyev, a department head, informed Yuri Solovyov, VTB first deputy chairman and VTB Capital board chairman, in a memo of 15 November, Bloomberg reports citing the memo. Mr Bostanjiyev, general director of VTB Capital plc., manages international business, a VTB officer says. According to data found on the VTB Capital website, the company has offices in London, Singapore, Dubai, Hong Kong, Sofia, Kiev, New York, Paris and Vienna. Continue reading

Luzhkov: Dirt that I touch when I work on a combine is cleaner than Medvedev’s politics

BBC Russian Service

Former Moscow Mayor Yuri Luzhkov gave an interview to the Russian Service of the BBC in London. He refused to comment on the candidates running for mayor but shared his impressions about the upcoming election.

He also spoke about his new occupation as a combine operator and about complications with a British visa.

Talking to Yuri Luzhkov was BBC Russian Service correspondent Oleg Antonenko. Continue reading

Only VTB earns money by using VTB

Expert

The VTB bank has closed a deal where it sold 24 per cent of the shares of an additional emission. The shares were offered to investors at a 10-per cent discount as compared to the exchange price, which fact attracted a broad range of participants even in spite of the fact that the shares were traded exclusively on the Moscow Stock Exchange.

Active purchases were also stimulated by the bank’s sale of shares in its capital at extremely low coefficients. Thus, the capitalisation to the bank’s own capital ratio (p/bv) amounted to 0.62, whereas in VTB’s principal rival – Sberbank – it is 1.25 (you may say that investors value Sberbank 100 per cent higher than they do VTB). Continue reading

Oppositionist Konstantin Lebedev says video from “Anatomy of Protest 2″ is genuine

Vedomosti

Konstantin Lebedev, an activist of the Left Front, has confirmed that the video of the meeting of Russian oppositionists with the Georgian politician Givi Targamadze that formed part of Anatomy of Protest 2, an NTV documentary, is genuine. Lebedev’s lawyer Valery Lavrov has said that his client has recognised that the people in the video “indeed were at that time in that place” and “the conversation in the video did take place.” Continue reading