Economic Union

2025: Ex-head Marina Tsukanova received a prison sentence for embezzlement of 400 million rubles

On April 15, 2025, the Savelovsky District Court of Moscow found Marina Tsukanova, former chairman of the board of Bank Economic Union, guilty of embezzlement of funds from a credit institution. We are talking about damage in the amount of over 400 million rubles. Read more here

2020: DIA asks to arrest the property of the ex-management of the bank for 1.6 billion rubles

In April 2020, the State Corporation "Deposit Insurance Agency" (DIA) filed an application with the Arbitration Court Moscow to seize the property of fifteen persons controlling JSC "Bank Economic Union" in the amount of more than 1.6 billion, the rubles court ruling says.

The petition for interim measures was filed as part of the DIA lawsuit to bring the former heads of the bank to subsidiary liability and recover 1.6 billion rubles from them.

During the bankruptcy proceedings of the DIA, it was established that the persons controlling the bank took action to form technical loan debts and replace the real estate of the credit institution with technical debts of legal entities. In addition, despite the presence of appropriate grounds, the persons controlling the bank did not take measures to prevent its bankruptcy, the DIA noted.

According to the agency, as a result of these actions (inaction), there was a significant deterioration in the financial situation of Bank Economic Union JSC, which was the reason for the impossibility of satisfying creditors' claims in full. These circumstances in accordance with the Federal Law "On Insolvency (Bankruptcy)" are the basis for bringing the persons controlling the bank to subsidiary liability.

2017: Licence revocation and bankruptcy

The Bank "Economic Union" with unsatisfactory quality of assets inadequately assessed the accepted risks. Due to the low quality of assets, the bank did not ensure the timely fulfillment of obligations to creditors. In addition, the bank was involved in transit operations, as well as dubious operations related to the withdrawal of funds abroad. At the same time, the managers and owners of the bank did not take effective measures to normalize its activities.

In accordance with the order of the Central Bank, banks have appointed a temporary administration for a period of validity until the appointment of a bankruptcy trustee or liquidator. The powers of the executive bodies of credit institutions have been suspended.

On April 21, 2017, the Moscow Arbitration Court granted the application of the Central Bank (Central Bank) of Russia to declare Bank Economic Union JSC bankrupt.