AMUR Car Factory’s former director is charged with large-scale fraud
12 May 2014 (09:22)
May 12, 2014. Sverdlosvk Region division of Russia’s Internal Affairs Ministry Chief Investigative Committee completed its investigation of the a criminal case relating to charging the former head of AMUR Car Factory (now bankrupt) with illegal receival of loans and of large-scale fraud, the ministry’s press service reports.
According to the inquiry team, AMUR’s top executive submitted knowingly inaccurate accounting data to one of Yekaterinburg’s privately run banks in 2007-2008 and used these data as the basis for obtaining some 350m RUR worth of loans; these loans have not been paid back so far.
It was also detected that in 2009, the then director was worried about losing control over the company as a result of bankruptcy proceedings and issued more than 1,238m RUR worth of unlawful promissory notes in his own name. The papers were submitted to an arbitration court for AMUR bankruptcy case so that the man could get on the list of creditors. The accused therefore is believed to have deceived all the other parties in the case as to whether the car factory really had been in any debt to him. The former executive’s actions not only meant he managed to get himself on the list of AMUR creditors but also became the company’s primary creditor, as a matter of fact.
The criminal lawsuit involving AMUR Car Factory’s former head was directed by the police to Yekaterinburg Leninsky District Court for consideration. The accused could face up to ten years in prison.
According to the inquiry team, AMUR’s top executive submitted knowingly inaccurate accounting data to one of Yekaterinburg’s privately run banks in 2007-2008 and used these data as the basis for obtaining some 350m RUR worth of loans; these loans have not been paid back so far.
It was also detected that in 2009, the then director was worried about losing control over the company as a result of bankruptcy proceedings and issued more than 1,238m RUR worth of unlawful promissory notes in his own name. The papers were submitted to an arbitration court for AMUR bankruptcy case so that the man could get on the list of creditors. The accused therefore is believed to have deceived all the other parties in the case as to whether the car factory really had been in any debt to him. The former executive’s actions not only meant he managed to get himself on the list of AMUR creditors but also became the company’s primary creditor, as a matter of fact.
The criminal lawsuit involving AMUR Car Factory’s former head was directed by the police to Yekaterinburg Leninsky District Court for consideration. The accused could face up to ten years in prison.
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