Viola — Bank

2020: The ex-shareholder of bank Alexander Kitbalyan is sentenced to eight years

Tverskoy Court of Moscow sentenced to eight years of standard regime penal colony in February, 2020 the former shareholder and the deputy chairman of board of Alexander Kitbalyan's Alto bank which went bankrupt in 2016. As it was set in court, attracting VIP-investors, it stole in the fraudulent way $10 million at one of them — the entrepreneur Georgy Alexandrov. Alexander Kitbalyan received six years of imprisonment for this swindle, and aggregate term of punishment was appointed taking into account that the banker already is in colony for similar fraud. Read more here.

2019: Trial of the former shareholder Alexander Kitbalyan

In August, 2019 in Tverskoy district court of Moscow process concerning the former shareholder of Alexander Kitbalyan's Alto bank which failed in 2016 began. He is accused that, attracting VIP-investors, he stole in the fraudulent way $ 10 million at one of them — Georgy Alexandrov.

It is not the first court concerning Kitbalyan. In 2017 he was sentenced to five-year term for assignment in 2013 of 20  million rubles and sale of unsecured bills to the client for $ 50 thousand.

2016: Revocation of license

"The order of the Bank of Russia revokes in February, 2016 a license for banking operations from credit institution "Alta-bank commercial bank (private company) from 2/8/2016", the statement says.

The decision on revocation of license is made by the Bank of Russia in connection with non-execution by credit institution of the federal laws regulating banking activity and also inability to meet requirements of creditors for monetary obligations.

According to the order in Alta-bank the temporary administration valid up to the moment of appointment of the receiver or the liquidator is appointed. Powers of executive bodies of credit institution according to federal laws are suspended.

CB Alta-bank — the participant of deposit insurance system. According to given to the reporting, on the value of assets of Alta-bank on 1/1/2016 took the 186th place in a banking system of the Russian Federation.

The bank was the member of the Association of Russian Banks, Moscow Banking Association, Moscow Interbank Currency Exchange, National Share Association, the affiliated member of MasterCard Int. associated by the member of Visa Inc. S.A. and basic member ISS (Integrated Settlement System).

For lifetime of Bank the network of correspondence relations with foreign banks is created: VTB Bank (Deutschland) AG, Frankfurt am Main (Germany), Commerzbank AG, Frankfurt am Main (Germany) and leading Russian banks.