Former vice-president of the Moscow Industrial Bank (Minbank) Adam Arsamakov was arrested in absentia.
The son of Abubakar Arsamakov, the former head of one of the largest financial institutions in Russia, which is now being reorganized by the Central Bank, is accused of especially large embezzlement. Earlier, the arbitration found the Arsamakovs and 16 other persons who controlled the credit institution guilty of causing losses to the bank and recovered almost 200 billion rubles from them.
According to Kommersant, the Investigative Committee of Russia (Investigative Committee of Russia) opened the first criminal case on fraud in the Ministry of Bank in 2019. It refers to the payment of salaries to numerous relatives of the former top managers of this credit institution, who in fact were listed there only formally.
Understanding this story, which so far has not ended with anything, the TFR came to a much larger-scale embezzlement of the funds of the Ministry of Bank.
As a result, another criminal case was initiated on the fact of embezzlement (part 4 of article 160 of the Criminal Code of the Russian Federation), in which 36-year-old Adam Arsamakov, the son of the former president of this credit institution, Abubakar Arsamakov, became a defendant.
It should be noted that almost the entire top management of the Ministry of Bank lost their posts at the beginning of 2019, when the financial institution fell under rehabilitation Central Bank. The regulator came to the conclusion that the inefficient and dishonest management of the bank almost brought it to bankruptcy. In addition, numerous violations and abuses were identified, which became the subject of an investigation by the TFR.
In particular, according to Kommersant, the materials of the criminal case deal with the issuance of loans to dubious organizations in the amount of more than 100 billion rubles.
At the same time, out of 104 borrowers, 51 stop servicing your debts immediately after the temporary administration came to the Ministry of Bank. According to the investigation, the debtor firms were most likely under the control of the top management of the Ministry of Bank. In any case, the credit committee easily issued money to structures that did not conduct any financial and economic activities, transferring them to the category of reliable borrowers. There are now more than two dozen such organizations in business.
According to Kommersant, at first the investigation had questions to the president of the Ministry of Bank, Abubakar Arsamakov, who has headed this credit institution since 1998. However, it turned out that on November 14, 2020, the ex-banker died at the age of 65 from the effects of a coronavirus infection. However, as Kommersant’s sources in law enforcement say, they still allegedly have no official confirmation of this information.
An attempt to interrogate the former vice-president of the Ministry of Bank Adam Arsamakov was also unsuccessful – he fled abroad. After his arrest in absentia, his name should appear in the Interpol search database.
It is also worth noting that after being removed from his post at the Ministry of Banking, Arsamakov Jr. became almost the only one who appealed this decision in court.
In his lawsuit, he asked to pay “lost earnings” for almost six months in the amount of 2.1 million rubles. (the salary of the ex-banker was 600 thousand rubles per month). However, in August 2019, the Simonovsky District Court of Moscow refused Arsamakov Jr.
Interestingly, in parallel with this, Adam Arsamakov was also suing the Central Bank, which “deprived him of the right to engage in banking activities and hold leadership positions.” In particular, the ex-banker demanded that the regulator’s order of January 29, 2019 be declared illegal, which stated that “he was found not to meet the requirements for business reputation.” At the same time, the applicant denied his guilt in the unfavorable financial situation of the Ministry of Bank, calling his actions as a member of the board of the credit institution “reasonable and conscientious”.
Arsamakov Jr. failed to win the dispute with the Central Bank and the Moscow Arbitration Court. In August 2020, the latter satisfied the regulator’s claim against the former vice president of the Minbank and 17 other top managers who controlled this credit institution, collecting almost 200 billion rubles from them jointly and severally.
The Ministry of Bank refused to comment on the situation with the arrest in absentia and the claims of the investigation against Adam Arsamakov.