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VTB
Navalny in English
navalny_en
Today we present a brief report on one of the most frequent targets of my blog – VTB Bank



This report was prepared by our Foundation for Fighting Corruption in cooperation with the Henry Jackson Society – one of the most reputable British think-tanks in the area of international relations.

The report is published here.

Its Russian translation is here.

The document is aimed primarily at the foreign public, and the HJS will send it to ten thousand recipients all over the world. First of all, to investors in the banking sector, financial analysts, and those whose area of interest is in the financial sector; and to policymakers, journalists and public figures, as well.

Why is it important?

The head of VTB, “banker” Kostin, starred as chairman of our record-costing APEC summit . He opened the event. It was a very important political gesture. VTB is becoming a national symbol of Russian capitalism, its grand showcase.

They tell foreigners tall tales about how wonderful everything is with that prosperous “bank”.

In Russia, too, everyone agrees that VTB is a shining example and symbol of Russian capitalism.

But the reality is unlike the stories told during the summit: in fact, the VTB is a group of money-laundering thieves endlessly devouring money allocated as "financial assistance". The VTB is headed by ignorant and corrupt folks who hold their positions only because they: a) enable criminal schemes; b) offer jobs to numerous friends and relatives; c) themselves are someone’s relatives or friends.

Where did the son of the ex-director of the Federal Security Service’s [FSB] work? – At VTB.
Where does the son of the current director of the FSB work? – At VTB.
Where did the son of the chief of the Presidential Administration work? – At VTB.
Where does Ms Matvienko’s son work? – At VTB.
What job was Medvedev’s spokeswoman’s husband, Budberg, elevated into? – From an ordinary journalist to Mr Kostin’s adviser plus a $1,000,000 official salary.

These are the most glaring examples. But how many various colonels and generals, ministers and deputy ministers, along with their families, earn their keep there? A legion.

No wonder that VTB blatantly, in full view of the whole country and world watching, perform such brazen tricks like they did with the Bank of Moscow, and we taxpayers are paying for those tricks.
Read Sergey Aleksashenko; read Vasily Sidorov, former director of Mobile Telesystms (MTS) (here and here).

The rogues at VTB and their entire tribe of parasites surrounding them cheerily buy up property in London and Cote d’-Azur in France, and chomp truffles while waffling of their patriotism and concern for Great Russia and their support of National Leader, V. V. Putin.

Our aim is to make everyone who attends future summits and hears Mr Kostin glorify the Great Putin, say to themselves:
- Aha! So this is the guy who once bought a bank with $3 billion of state money and then “suddenly” found out that the bank wasn’t worth a penny; the guy didn’t go to jail but received more budgetary assets.
- Aha! So these are the guys who pilfered $152 million from their bank in a deal on drilling equipment and then tucked the money away offshore.
- Aha! So it was them who provided “loans” for kickbacks to the “debtor” and shamelessly used them to buy a 115-metre yacht.

All those VTB thieves should be put on various “Magnitsky lists” or, better still, arraigned on criminal charges for money-laundering.
That would be impossible in Russia as it currently is. Even in the the West it would be difficult.
However, we’ll keep on doing it, and sooner or later we’ll win.

P. S.
VTB and Mr Kostin have predictably replied, “Well, you can't talk, either!”



VTB has recommended that Navalny look for corruption in his own foundation.
The state-controlled VTB Bank has accused Alexey Navalny’s Foundation for Fighting Corruption and the Russia studies centre at the Henry Jackson Society of being prejudiced against VTB Bank and of disseminating false information. According to Reuters, such was VTB's reaction to the joint publication of the Russian and British foundations describing some dubious managerial decisions made at the state-owned bank.


My response is as follows:

Mr Kostin, accused citizen,

Heaven knows what sort of "corruption" you're looking for at our foundation.
Searches, wiretaps, permanent outdoor surveillance.
Searches of mine and my parents' homes.

Nothing has been found so far, while the list of seized items could be entered into a comedy competition.


Having found nothing, they blatantly fabricate cases, but it doesn't look convincing.
If all the numerous major case investigators at the Investigative Committee and the FSB pursuing me, would also devote some time to the “case of drilling equipment” and the Bank of Moscow, you and your directorate would already have left for Mordovia [the region where penal colonies are located] ages ago.

You think you’ve got God-like powers to send others to Mordovia at any time?
Well, you’re wrong.

As for the facts in the report, they are absolutely undeniable.
If you have anything to say to the contrary – then say it. So far, instead of answers to direct and simple questions, we're only getting paid journalism in a venal, mercenary paper promoted by Nashi members.

That’s very disappointing of you. It looks as if even your PR budget was stolen. Typical.


Originally posted bynavalny on Sep. 11th, 2012 at 1:02 PM



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