Crimean authorities are absorbing Genbank, fearing fraud on the part of its shareholder - the media
The unexpected merger of the private Genbank with the state-owned ChBRR bank in Crimea may be linked to the peninsula's authorities' mistrust of one of Genbank's shareholders, Odessa native Evgeny Dvoskin, who has been repeatedly accused of fraud in Russia and abroad, Kommersant writes.
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The merger deal, which will take several months and will lead to the creation of a new bank with a new name, became known in Crimea yesterday.
The private Genbank is richer than the state-owned ChBRR: the capital of the latter is only 325 million rubles, and the capital of Genbank is 1,85 billion rubles. However, control in the united structure is given not to GenBank shareholders, but to the Crimean authorities. “We understand that the share that we give to the government is actually overstated,” admitted the first deputy chairman of the board of GenBank, Sergei Mokhov, without naming the reasons for this configuration of the transaction.
According to the publication’s interlocutor, this may be due to the information disclosed on April 24 that one of the shareholders of Genbank (with a 4,8% share) is Evgeniy Dvoskin. Dvoskin is a well-known financier, a native of Odessa, whom Russian and international authorities have repeatedly, but unsuccessfully, tried to bring to justice for fraud and legalization.
In such a situation, the Crimean authorities decided to keep everything under control, the newspaper’s source believes.
Crimean authorities are taking over Genbank, fearing fraud by its shareholder – media