OREANDA-NEWS. During the functioning of the provisional administration of Vneshprombank LLC, the Bank of Russia and the state corporation Deposit Insurance Agency revealed large-scale operations pointing to the asset withdrawal from the bank. The former management and the persons exercising control over the bank were allegedly engaged in the asset withdrawal.

The available information allows to assume that the withdrawn assets could have been invested in real estate, expensive vehicles, shares in commercial enterprises, financial instruments, and other property legally controlled by persons not formally related to Vneshprombank LLC. The preliminary data suggest that this property can be located both in Russia and abroad, including Europe and the USA.

The Bank of Russia emphasises that any deals, encumbrance or other disposal of the property purchased out of the funds of Vneshprombank LLC will be contested in future and may fall within the concern of law enforcement agencies. Thereby, should the person charged with the management of these assets meet the instructions of the persons who used to exercise control over the credit institution, as well as their relatives and affiliates, the managers may face the implications for their business reputation, as well as civil and criminal implications in the Russian and foreign jurisdictions.

The provisional administration of Vneshprombank LLC and subsequently the receiver will cooperate with law enforcement and judicial agencies to reclaim this property for the purpose of protecting interests of all creditors of the bank.