Russian Banker Hits Back; Former President of Bailed-Out Bank of Moscow Says Lender’s Problems ‘Artificial’

by Guy Chazan and William Maudin, Wall Street Journal

The biggest bank bailout in Russian history was an “insane waste of money,” the bank’s embattled former president said in an interview.

Andrei Borodin, who fled Russia in March and is wanted by authorities there over a loan Bank of Moscow made under his leadership, said the bank “never needed state help.”

“The problems there are of an artificial nature,” he said.

(more…)

Russia’s “Greece”

Maksim Blant, economic commentator of NEWSru.com The country, as it turns out, does not know its heroes well. Russian banking system, it turns out, was hanging on a thread, and…

Quiet joy

Here is some new information for those interested in the progress of the framed-up criminal case against Andrei Borodin: today I have received an order by investigator D. Pisarevskyi to grant my petition to attach certain media reports to the case file as evidence. If follows from those media reports that, as it turns out, the RF Interior Ministry, as represented by some of its officials, is perfectly aware of both the whereabouts of my client and such pivotal fact as the location of the 12,760,000,000 rubles, the fund that allegedly precipitated this criminal case. According to the Interior Ministry, once the money – by way of a loan extended by the Bank of Moscow – hit the account of Premier Estate it was transferred to Ye. Baturina’s personal accounts.Блог Владимира Краснова, адвоката Андрея Бородина, на сайте Эхо Москвы

Тем, кому интересно развитие сфабрикованного уголовного дела в отношении Андрея Бородина, сообщаю: сегодня получил постановление следователя Д.Писаревского об удовлетворении моего ходатайства о приобщении к материалам дела в качестве доказательств ряда публикаций СМИ. Из них следует, что МВД РФ в лице его официальных должностных лиц, оказывается, прекрасно известно не только местонахождение моего подзащитного, но и такое важнейшее обстоятельство, как местонахождение денежных средств в сумме 12.760.000.000 руб., из-за которых якобы и возникло это уголовное дело: поступив на счет компании «Премьер Эстейт» в качестве кредита из Банка Москвы, они, по данным МВД, были перечислены на личные счета Е.Батуриной.Blog von Wladimir Krasnow, Andrej Borodins Anwalt, auf der Website von „Echo Moskwy“

Hier sind einige neue Informationen für diejenigen, die sich für den Verlauf der abgekarteten Strafsache gegen meinen Klienten Andrej Borodin interessieren: Ich habe heute eine Anordnung des Ermittlers D. Pisarewski erhalten, in der mein Antrag bewilligt wurde, bestimmte Medienberichte den Akten als Beweise beizufügen. Es ergibt sich aus den Medienberichten, dass das Innenministerium der Russischen Föderation, vertreten durch einige seiner Beamten, wie sich herausgestellt hat, sowohl bestens über den Aufenthaltsort meines Klienten als auch über die zentrale Frage wie den Verbleib der 12.760.000.000 Rubel informiert ist, d.h. den Verbleib der Gelder, um die es in dieser Strafsache angeblich geht. Dem Innenministerium zufolge wurden diese Gelder, sobald sie durch ein von der Bank of Moscow verlängertes Darlehen auf dem Konto von Premier Estate eingegangen waren, auf die persönlichen Konten von Je. Baturina überwiesen. (more…)

Russian Banker Hits Back; Former President of Bailed-Out Bank of Moscow Says Lender’s Problems ‘Artificial’

by Guy Chazan and William Maudin, Wall Street Journal

The biggest bank bailout in Russian history was an “insane waste of money,” the bank’s embattled former president said in an interview.

Andrei Borodin, who fled Russia in March and is wanted by authorities there over a loan Bank of Moscow made under his leadership, said the bank “never needed state help.”

“The problems there are of an artificial nature,” he said.Гай Чейзан и Уильям Молдин, The Wall Street Journal

Крупнейшая в российской истории операция по спасению банка-банкрота представляла собой “безумное растранжиривание денег”, заявил в интервью бывший президент этого банка Андрей Бородин.

По словам Бородина, этот банк “никогда не нуждался в помощи государства”. “Проблемы в нем имеют искусственный характер”, – заявил он. (more…)

Bank of Moscow ex-president seeks damages

by Alastair Marsh, FT Tilt Andrei Borodin, the former president of Bank of Moscow, which will be the recipient of the largest bailout in Russian history, is suing his former…

Bank of Moscow ‘squeezed’ Andrey Borodin’s money?

The Moscow Post The scandal evolving around the conflict of former and present Bank of Moscow management continues. The former president of Bank of Moscow Andrey Borodin demands compensation for…

Questions raised on Bank of Moscow bail-out

Financial Times

The $14bn bail-out of Bank of Moscow was a vastly inflated move aimed at tightening the grip of VTB, the Russian state bank, over Moscow assets, according to people close to Andrei Borodin, former president of the collapsed lender.

They argue that the bail-out was politically motivated and part of a carve-up of Moscow assets following the controversial ousting of Yury Luzhkov as the city’s mayor last year.

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Bank of Moscow bailout tightened VTB grip -FT

Reuters News LONDON, Aug 18 (Reuters) - The $14 billion bailout of Bank of Moscow was a vastly inflated move aimed at tightening the grip of VTB over Moscow assets,…