OREANDA-NEWS. In the course of supervision over the activity of TANDEMBANK LLC the Bank of Russia revealed considerable unreliability of the bank's statements presented to the Bank of Russia as they did not reflect its real financial standing and did not fully consider the bank's failure to fulfill its obligations to the creditors.

In this regard the Bank of Russia demanded TANDEMBANK LLC twice to present reliable statements which were left unmet by the bank.

Thus, the management of TANDEMBANK LLC concealed from the supervisory authority the grounds stipulated by Clause 4 of Part 2 of Article 20 of the Federal law 'On Banks and Banking Activity' for the obligatory revocation of its banking licence that bears the evidence of a criminal offence specified in Article 172.1 of the Criminal Code of the Russian Federation.

By its Order No. OD-699, dated 2 April 2015, the Bank of Russia revoked the banking licence from TANDEMBANK LLC from 2 April 2015.

The Bank of Russia has submitted the information on the activity of the management of TANDEMBANK LLC bearing the evidence of a criminal offence to the Investigation Committee of the Russian Federation for consideration and procedural decision making.