Aggregated News From Investment Management Regulators

Operations of provisional administrations to manage Bank Mayskiy LLC and Bank Prohladnyj LLC

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Provisional administrations to manage Bank Mayskiy LLC and Bank Prohladnyj LLC have revealed that former management and owners of these credit institutions conducted operations aimed at diverting assets through lending to borrowers with dubious  creditworthiness or incapable to meet their obligations, and through the assignment of receivables and sale of property below the market price.

The Bank of Russia submitted the information on the financial transactions suspected of being criminal offences that had been conducted by the credit institutions’ officials to the Prosecutor General’s Office of the Russian Federation and the Investigative Committee of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

This news item was originally published by the Central Bank of the Russian Federation (CBR RU). For more information, see the Source Link.

Regulator Information

Abbreviation: CBR
Jurisdiction: Russian Federation

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