August 31, 2015. The trustee in bankruptcy appointed to Plato Bank by the Bank of Russia after the former's license had been revoked determined that the bank's assets amount to no more than 473m RUR, while its creditors' claims come to 907.3m RUR, the Bank of Russia's press service reports.

'It was determined in the course of an investigation that nearly all of the bank's borrowers had received their loans in no relation whatsoever to what business they had been doing. The bank's transactions look like mere withdrawal operations, involving, in fact, private individuals' savings. Moreover, Plato Bank appears to have estimated its assets at a price far above the actual market worth,' the press service says.

The Central Bank directed all the information regarding financial transactions by the Plato Bank's managers and proprietors that looked like criminal offenses to the General Prosecutor's Office, the Internal Affairs Ministry, and to Russia's Investigative Committee for further action.

Plato Bank's license was revoked by the Central Bank on May 13, 2015 since the bank had failed to comply with the banking law as well as to accumulate the required minimum amount of funds. Sverdlovsk Region Arbitration Court pronounced Plato Bank insolvent on July 20 and ruled that the bank should undergo bankruptcy proceedings. The state-run Deposit Insurance Agency was appointed the bank's trustee in bankruptcy.