OREANDA-NEWS. During the examination of financial standing of JSCB Online Bank (CJSC), the provisional administration to manage this entity appointed by Bank of Russia Order No. OD-2252, dated 28 August 2014, due to the revocation of its banking licence revealed transactions made by the former management which bear evidence of moving out the assets through transactions to swap the loans with promissory notes of the companies with doubtful creditworthiness worth 290 million rubles.

According to the estimates made by the provisional administration, the value of assets of JSCB Online (CJSC) does not exceed 30.9 million rubles, while its liabilities to creditors amount to 58.2 million rubles.

Under these circumstances, on 20 October 2014, the Arbitration court of the city of Moscow took a decision to recognize JSCB Online Bank (CJSC) insolvent (bankrupt) and to initiate bankruptcy proceedings with the state corporation Deposit Insurance Agency appointed as a receiver.

The Bank of Russia submitted information on the financial transactions bearing the evidence of criminal offence conducted by the former management and owners of JSCB Online Bank (CJSC) to the Prosecutor's General office of the Russian Federation and the Russian Ministry of Internal Affairs for consideration and procedural decision making.