2023-05-05 10:12:38
Bank of non-core assets “Trust” filed a lawsuit in the High Court of the British Virgin Islands against large international traders, as well as against the companies of the former owner of Binbank and Rost-Bank, Mikail Shishkhanov. “Trust” demands to compensate for the damage in the amount of more than $1 billion caused by the reorganization of Rost-Bank.
In the Trust’s lawsuit, which cites Frank Mediait is said that between 2013 and 2017, Mikail Shishkhanov colluded with international agricultural and commodity traders – Cargill, Louis Dreyfus, Bunge, Quadra, Xangbo and Liberty Commodities, in violation of regulatory requirements to hide the withdrawal of funds from Binbank.
The bank claims that the international traders were aware of the illegal nature of the transactions, but voluntarily agreed to participate in fraudulent transactions. The traders themselves, as part of the operations, were exempted from any financial risks and received a commission. In addition, Trust points out that traders created the appearance of a real transaction under a sale and purchase agreement, thereby hiding the real nature of transactions with Binbank. However, no deliveries actually took place, the lawsuit says.
Trust stated that it was impossible to track the illegal withdrawal of Binbank assets, since trade finance transactions were displayed in the reporting as properly executed. Rost-bank did not receive any real counter representations from offshore companies, and its debt to Binbank gradually increased. The lawsuit emphasizes that Trust is the assignee of Rost-Bank, which means that it is he who has the right to demand compensation for the losses caused.
In April 2022, the TFR opened a case on the fact of embezzlement of 107 billion rubles. during the reorganization of Rost-Bank JSC by Binbank. By a court decision, former top managers of Rost-bank and Binbank Kirill Lyubentsov and Alexander Lukin went to jail. At first, Mikail Shishkhanov was also present among the defendants. However, later some unidentified persons appeared instead of him. The banker himself left Russia.
On April 20, 2023, the court recovered about 283.9 billion rubles from Mikail Shishkhanov and Alexander Lukin. for the benefit of the Trust. The lawsuit was filed by the Bank of Russia.
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