Bank of non-core assets “Trust” filed a claim with the Moscow Arbitration Court for 156.6 billion rubles. to Vadim Belyaev, the former co-owner of the financial group “Otkrytie”, the press service of the bank said.
“This lawsuit is part of the bank’s strategy to recover the funds withdrawn by the former beneficiary Vadim Belyaev from the Trust and Otkritie banks, and takes into account the defendant’s position on the need to resolve the dispute about his guilt in the courts of the Russian Federation,” the message says.
The Trust believes that Otkritie Holding under the management of Belyaev had signs of a pyramid scheme and repaid old obligations exclusively through new loans and the issue of bonds. At the same time, the funds raised were sent through the conclusion of fictitious transactions to companies associated with Belyaev.
Otkritie Holding is a former shareholder of Otkritie Bank. In 2017, the bank came under the control of the Central Bank, as the regulator began the process of its reorganization. In December 2018, troubled debts and non-core assets of Otkritie for 438 billion rubles. were transferred to the bank “Trust”. Through the structure, before the reorganization, the bank was owned by Vadim Belyaev. After the reorganization, Trust is trying to collect debts from Belyaev and Otkritie Holding.
In total, Otkritie Holding owes 570 billion rubles to creditors. – five times more than the book value of its assets and nine times more than the market value, according to the bankruptcy statement of the holding. Otkritie Holding filed for its own bankruptcy in February 2020.
.