General department for combating organized crime of Belarusian Ministry of Internal Affairs suspects Belagroprombank and Belarusbank in major financial fraud. Law enforcement agency prepared a report to the Head of the Administration of President, Vladimir Makey, which specifies the circumstances and the figures of the financial machinations at the highest level.
According to MIA GUBOP investigation, the fraud scheme appeared after Belarusbank and Belagroprombank had problems with the return of loans issued under the state program of rural revival and development for 2005-2010. In particular, it concerns loans issued for the renewal of agricultural machinery of Belarusian agricultural complex.
But then there were serious problems with repayment of loan funds, and banks began to issue new credits for the fictitious purchases of grain and using its expense to pay the old ones and thereby improve their performance, Ezhednevnik informs.
While investigating the case, MIA GUBOP gained access to a number of the heads of state enterprises, against whom they initiated criminal cases. In the latest report prepared for the head of the presidential administration contains wording that «the heads of state enterprises — against whom criminal cases were initiated — acted together and with prior agreement with officials of Belagroprombank and Belarusbank».
GUBOP of Interior Ministry jointly with the Department of Financial Investigations of the State Control Committee also requested in a report on the name of Vladimir Makey to give a permission for further investigation of financial fraud. During the investigation, it was determined that to achieve the fraudulent scheme there had been designed two decrees given for the President’s signature, and which run the whole scheme, reads the report.
According to the report, new loans for fictitious purchases were obtained not only to repay the earlier loans, but in order to conceal the failure of the main targets for output growth and profitability of sold products by enterprises. Concrete bank’s officials are not named yet.
However, the investigation found out that the heads of enterprises did not act according their wish. The bankers forced them to take new loans to cover the old ones. But, as suggested the investigation, the bankers neither acted on their own, because they could not lobby for the adoption of two presidential decrees. MIA GUBOP has already known the names of those who «gave orders», but they are not informed yet.
