OREANDA-NEWS. The provisional administration of JSC Arxbank appointed by Bank of Russia Order No. 2289, dated 19 July 2016, following revocation of its banking licence has detected fraud with household deposits while taking first-priority measures.

Under restrictive measures introduced by the Bank of Russia, JSC Arxbank management abused its authority, performed ad hoc records of deposits and falsified the submitted data on the value of real obligations before households.

At the same time JSC Arxbank management resisted the provisional administration by having failed to provide it with accounting and other documents as regards the bank’s assets and obligations.

The Bank of Russia submitted information on financial transactions bearing the evidence of criminal offences conducted by the former management and owners of JSC Arxbank to the Prosecutor General’s Office of the Russian Federation, the Ministry of Internal Affairs of the Russian Federation and the Investigative Committee of the Russian Federation for consideration and procedural decision making.