Korishchenko Konstantin

Biography

1992: Starting work at the Central Bank

Korishchenko came to the Central Bank in 1992 and soon rose to the post of head of the department of operations in the open market. Together with Bella Zlatkis and the first deputy chairman of the Central Bank Andrei Kozlov, he created the government bond market, and in 2000, having completed the innovation of GKO-OFZ after default, he left the Central Bank to head the then leading stock exchange, RTS.

2001: Start of work at Troika Dialog

In 2001, he moved to one of the leading Russian investment banks, Troika Dialog, where he worked as managing vice president with the future head of the FFMS Oleg Vyugin. At that time, Korishchenko headed the expert council at the FCC.

2002: Return to the Central Bank

Korishchenko returned to the Central Bank in 2002 as part of the team formed by Sergei Ignatiev, who headed the Central Bank. It also included Vyugin, who became Ignatiev's first deputy. In the Central Bank, Korishchenko oversees operations in the foreign exchange market.

2005: Suspicions of State Duma deputies about possible violations of Korishchenko

In July 2005, deputies of the Rodina faction Dmitry Rogozin and Ivan Kharchenko asked the Prosecutor General's Office to check whether confidential information about his interventions in the foreign exchange market was leaking from the Central Bank. Deputies suspect that one of the deputy chairmen of the Central Bank, using it, could earn huge sums. The deputies emphasize that one of the deputy chairmen of the Central Bank involved in making decisions on exchange rate policy previously worked as the managing vice president of a large commercial structure, Vedomosti wrote.

As noted by Vedomosti, only one of Ignatiev's deputies, Konstantin Korishchenko, fits this description.

"Today, the leadership of the Central Bank restrains inflation only by playing with the ruble exchange rate. This is a dead end, since the main factor affecting inflation is the rise in energy prices. At the same time, when there is a game with exchange rates, those in the Central Bank who are admitted to insider information, or structures associated with them, have the opportunity, using it, to personally earn huge sums, "Kharchenko explains the reasons for his concern. The head of the FSFR Oleg Vyugin and the deputy chairman of the Central Bank of the Russian Federation Alexander Khandruev do not believe in Korishchenko's guilt, since the currency operations of the Central Bank of the Russian Federation are regulated and strictly controlled.

Korishchenko worked as the head of the Russian office of Bank of America Merrill Lynch.

2021: Detention on suspicion of violations at Investbank

In June 2021, the former deputy chairman of the Central Bank and the ex-head of the Moscow Exchange Konstantin Korishchenko were detained in Moscow on suspicion of violations in Investbank Vladimir Antonov.

He is suspected of embezzlement on an especially large scale (part 2 of article 160 of the Criminal Code). According to the investigation, Korishchenko and businessman Maxim Palchun are involved in a criminal case on the embezzlement of about 3.2 billion, the rubles Investment bank TASS source said.

The case began back in 2019, then 19 ex-bank employees were detained.

Earlier, a personal bankruptcy procedure began against Korishchenko.

2024: Recovery of 0.5 billion rubles by the court

The Ninth Arbitration Court of Appeal on September 4, 2024 confirmed the recovery of ₽549 million from the former deputy chairman Central Bank Russia Konstantin Korishchenko. This amount was included in the register of creditors' claims Investment bank in the lawsuit, Deposit Insurance Agencies (DIA) which acts as the bankruptcy trustee of the bank. The court upheld the decision Moscow of the Arbitration Court, issued on June 10, 2024.

According to Interfax, the court ruled that the claims for the recovery of funds should be satisfied at the expense of the debtor's property. The amount of debt was confirmed by the verdict of the Tagansky District Court of Moscow of September 19, 2023. The lawsuit says the funds will be paid after other creditors' claims are satisfied.

source = Tver Court Press Service

Investbank filed an application for the inclusion of debt in the register on October 20, 2023, citing the facts of embezzlement of the bank's assets. These actions, according to the investigation, were carried out through controlled legal entities using fictitious bills and guarantees, which led to the bankruptcy of Investbank. Korishchenko's actions damaged the bank in the amount of about ₽1,4 billion.

The arbitration proceedings have been going on for several years. In 2021, the Moscow Arbitration Court declared Korishchenko bankrupt, launching a procedure for restructuring his debt. In 2022, the court began selling the debtor's property, and in 2023 the DIA filed a petition to restrict Korishchenko's right to leave Russia. The court granted this claim in March 2024.

On June 16, 2021, Konstantin Korishchenko and his accomplice Maxim Palchun were detained. According to investigators, in 2013 they organized the withdrawal of Investbank assets through controlled companies. In September 2023, the Tagansky Court of Moscow sentenced both defendants to seven years in prison and imposed fines of ₽1 million on them. However, in December 2023, the Moscow City Court released them from punishment due to the expiration of the statute of limitations.

At the same time, the arbitration court seized Korishchenko's property worth more than ₽800 million and returned the assets to the bank. Securities worth over ₽500 million were also arrested as an interim measure to compensate for damage.^[1]

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