Calvi Foundation Challenged Loss of Control Over Vostochny Bank
The structure of Baring states that the court ignored the "facts confirmed by the Central Bank" of the withdrawal of assets from Uniastrum and the fraudulent overstatement of the level of its capital. “Finvizhn” carried out transactions for the withdrawal of assets from “Uniastrum” after the audit by the auditor (ended May 31, 2016), but before the merger with “Vostochniy” - in the amount of 3.6 billion rubles, says Baring. The complaint describes some of these transactions.
One case of withdrawal of assets occurred through the issuance of a loan of 1.78 billion rubles. the greenhouse complex "Mushroom Farm", says Evison: the bulk of the funds were soon transferred to an account in Cyprus, and the Central Bank considered the return of the loan unlikely.
Another block of complaints Baring is associated with “distortion of financial statements”. Avetisyan’s company hid the obviously uncollectible loans and signs of a withdrawal of assets at Uniastrum, according to Evison. As a result of the “deliberate deception of Evison” on the issue of the assets of “Uniastrum”, a liability was added to the “East” instead of the asset, the complaint says.
The decision of the Amur Court was “unprecedentedly quick, ”a Baring spokesman told the Russian media: “Innocent people have been held hostage in a commercial dispute for more than four months, being key witnesses in the same case of fraud and an option that will be considered in London”.