On October 18, information appeared that Rosseti North-West (the current name of IDGC North-West) was unable to withdraw money from a deposit in the Tauride Bank. Rosseti Severo-Zapad and Rosseti Lenenergo keep 12.7 billion in the bank on a subordinated deposit. This money was needed to finance an investment program in the Pskov region, but it did not work out. There is no money in Taurida.
7 years of “recovery”
Recall that Tavrichesky Bank came under reorganization in the spring of 2015, when Mikhail Prokhorov’s IFC bank won a tender for recovery from the DIA. The Deposit Insurance Agency allocated 28 billion rubles to Tavrichesky.
The scheme of MRSK and Tavrichesky was as follows: all free money was sent to the bank for safekeeping, supposedly at a very high percentage. And operating activities were carried out in debt. As a result of such a simple scheme, 13.4 billion rubles of Lenenergo disappeared from the bank, which were not reflected in the financial statements. Moreover, the board of IDGC found out about the loss at the last moment and immediately fired the general director of Lenenergo Andrey Sorochinsky. For understanding, this amount is a quarter of the then liabilities of the bank and a third of the annual revenue of Lenenergo. IDGC of North-West lost 3 billion rubles in Tavrichesky Moreover, the auditor of the public company Lenenergo, whose shares are traded to this day on the stock exchange, was Ernst & Young, who somehow did not notice such a loss.
Of course, a bunch of budget dough was poured into the energy monopoly and the company avoided bankruptcy. And the debt of Taurida was restructured with a moratorium for 5 years. In the summer of 2015, a message appeared on the Lenenergo website that the company returned 6 billion rubles of the debt of Tavrichesky Bank, and left another 10.6 billion rubles in this bank on deposit for 20 years at 0.5%. These were the results of agreements with the DIA and the bank’s sanatorium – IFC. The conditions of placement provided for their partial return, but not earlier than after 5 years. It was this point that the power industry now wanted to use in order to receive money for the Pskov region.
Where is the money, Bear?
Tauride is alive to this day, for 7 years Prokhorov’s team has been working on improving the balance. Its results are already clear, but what could be done with the tens of billions issued by the DIA? Let’s take a vivid example. In June 2022, there were reports that the Russian Federal Tax Service was suing the IFC bank, accusing it of artificially diverting cash flows from the reorganized Tavrichesky Bank, which caused billions in damage to the state budget.
Briefly, the Vyborg Timber Corporation owes the Tavrichesky Bank 14.6 billion rubles. If the sanatorium, Prokhorov’s bank IFC, could collect this money, it would pay off both the state and Rosseti. However, instead, the IFC created a structure in which all the profits of VLK were diverted to the left legal entity, a subsidiary of the IFC, and all debts were accumulated on the balance sheet of the timber processor. The courts of first and second instances in July and December 2021 refused the tax authorities, we are waiting for the outcome of this sentimental story.
Where do legs grow from?
It is clear that the second time the daughters of Rosseti were thrown by Prokhorov’s bank, but who started this glorious tradition in 2014? We will not load you with a bunch of names, positions, who, where and in what years intersected with whom, but the general director of Lenenergo Sorochinsky and three St. Petersburg entrepreneurs, the then leadership of Tavrichesky, could not have pulled off such a scheme on their own. They served more serious people.
The analysis of relationships leads to three figures:
1. Ex-Senator Yevgeny Samoilov, participant in the schematosis of the Tauride and the Ministry of Defense under Anatoly Serdyukov.
2. Ex-senator, ex-Deputy Minister of Defense under Serdyukov Grigory Naginsky.
3. Ex-senator, owner of LIVIZ and the Vyborg Timber Corporation Alexander Sabadash.
The conclusions are as follows: in Russia it is still bad to be a power engineer, everyone wipes their feet on you, and it is good to be a senator. Better yet, an ex-senator.