LINK-Bank

2022: Suspended sentences for former top executives

In August 2022, the prosecutor's office decided not to punish the former top managers of the bursting Link Bank, which was involved in the largest scheme to withdraw capital from Russia for a total of 500 billion rubles, with real terms. For former employees Sergei Parkhomenko and Sergei Komarov, the prosecutor's office requested 5 years probation in the case of embezzlement of 320 million rubles from the bank. Bankers gave this money to dummy companies and homeless people.

2014: License Revocation

On February 11, 2014, another bank, LINK-Bank (LINK-Bank, OJSC, Moscow), revoked its banking license. The Bank of Russia made the decision to apply an extreme measure of influence - revocation of the banking license due to the credit institution's failure to comply with federal laws regulating banking activities, as well as Bank of Russia regulations, and taking into account the repeated application within one year of measures provided for by the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)."

LINK-Bank, according to the Central Bank of the Russian Federation, did not create adequate provisions for possible loan losses for the accepted risks, and also violated the accounting procedure.

At the same time, the credit institution, the regulator notes, was involved in dubious operations related to the withdrawal of funds from the country under foreign trade agreements and transactions, as well as operations to issue cash to clients - legal entities. The total amount of the above operations in 2013, the Bank of Russia notes, exceeded 20 billion rubles. The rules of internal control in the field of countering the legalization (laundering) of proceeds from crime and the financing of terrorism at LINK-Bank did not meet the requirements of the Bank of Russia, and the heads and owners of the credit institution did not take the necessary measures aimed at normalizing its activities - the Central Bank said in a statement.