Official: Russia’s Audit Chamber starts checks at VEB bank

MOSCOW, Apr 11 (PRIME) -- Russia’s Audit Chamber has started checks in state development bank Vnesheconombank (VEB), loaded with bad Olympic and Ukrainian debts, and suspected to be fraud-ridden, Director Tatyana Golikova said on Monday.

“The Audit Chamber has started checks at VEB today,” Golikova said.

VEB reached a pre-default stage in November 2015. Former CEO Vladimir Dmitriev was replaced by Sergei Gorkov, who is now preparing the new strategy of the bank. By now, it is certain that VEB will remain a development institution.

Former Deputy CEO of the bank Anatoly Ballo was earlier suspected of a U.S. $14 billion fraud by the Investigative Committee.

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