In the course of performing its supervisory function with regard to the activities of CB AkademRusBank LLC, the Bank of Russia established facts of gross misreporting of data received from this bank, as these data did not show its real financial standing, failed to include or included only partially the bank's default on its obligations to creditors.
In view of this, on two occasions in December 2014, the Bank of Russia requested that CB AkademRusBank LLC submit reliable statements, which requests were not satisfied by the bank.
If the bank had submitted reliable statements, the Bank of Russia would have been obliged to revoke its licence on grounds stipulated by Clause 4 of Article 20.2 of the Federal Law 'On Banks and Banking Activities'.
Thus, the management of CB AkademRusBank LLC concealed from the supervisor the grounds stipulated by Russian law for the mandatory revocation of a banking licence, which constitutes a criminally punishable offence as established by Article 172.1 of the Criminal Code of the Russian Federation.
The Bank of Russia submitted information on the activities of CB AkademRusBank LLC management bearing evidence of criminal offence to the Investigative Committee of the Russian Federation for consideration and procedural decision making.
29 January 2015
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