Minsk slaps interim management on Belgazprombank over criminal cases

MINSK, Jun 15 (PRIME) -- The Belarusian central bank has appointed interim administration to Belgazprombank, owned by Russia’s Gazprom and Gazprombank, and appointed Nadezhda Yermakova, who was the regulator’s chairwoman in 2011–2014, as the head of the administration, the authority said in a statement on Monday.

On June 11, the State Control Committee of Belarus searched the headquarters of Belgazprombank, and on June 12 detained 15 people connected with the bank, including its deputy CEOs and heads of departments, under the cases of money laundering and tax avoidance.

“In order to protect the interests of depositors and creditors of Belgazprombank and to prevent worsening of its financial condition, the management of the National Bank of the Republic of Belarus issued a ruling on June 14 to introduce an interim administration to the bank on June 15 that would manage the bank. … Nadezhda Andreyevna Yermakova was appointed as the head of the interim administration,” the statement read.

The powers of the bank’s administration were suspended for the period of operation of the interim administration, the central bank said.

Viktor Babariko, a Belarusian presidential candidate, has been CEO of Belgazprombank for 20 years. Iven Tertel, chairman of the State Control Committee, said last week that Babariko had no procedural status under the cases, but that Minsk had proof that he had been involved in the criminal activity.

Gazprom and Gazprombank, which own 49.818%  of the bank’s shares, said that Belarus illegally appointed acting CEO to Belgazprombank, and that the shareholders will protect their rights by all legal means.

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