OREANDA-NEWS. The provisional administration of LLC RICB Rinvestbank appointed by Bank of Russia Order No. OD-2221, dated 14 July 2016, following revocation of its banking licence detected in the course of examination of the bank’s financial standing that the former management and owners of LLC RICB Rinvestbank conducted operations bearing the evidence of siphoning off the bank’s assets through providing loans to shell companies and large-value retail loans totalling 2.6 billion rubles.

The examination of the credit institution also found out operations bearing the evidence of moving out liquid assets by assigning the receivables under loan agreements exceeding 1 billion rubles and by releasing assets worth 146 million rubles from encumbrance.

Additionally, the provisional administration detected operations bearing the evidence of fraudulent lending and of money theft through the issue of fictitious loans against forged documents to the amount of 58.4 million rubles.

According to estimates made by the provisional administration the value of the assets of LLC RICB Rinvestbank does not exceed 0.9 billion rubles, while the value of its liabilities to creditors totals 5.57 billion rubles, including those to households amounting to 4.96 billion rubles.

On 16 September 2016, the Court of Arbitration of the Ryazan Region decided to recognise LLC RICB Rinvestbank insolvent (bankrupt) and initiate bankruptcy proceedings, with the state corporation Deposit Insurance Agency appointed as a receiver.

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