Page 12 - RusRPTJan21

2.2 ​ ​Corruption in the Deposit Insurance Agency (DIA)
In the spring of 2019, police in Russia arrested Colonel Kirill Cherkalin, the head of the Federal Security Service Banking Bureau’s Economic Security Department​.
In his home and his colleagues’ homes, officials found a record 12 billion rubles ($157.8 million). Immediately after these raids, Valery Miroshnikov — the first deputy director of the Deposit Insurance Agency (DIA), which flooded Russia’s banks with money in the mid-2010s — fled the country.
While at the DIA, Miroshnikov worked closely with Cherkalin. Miroshnikov remains abroad today, but his name still echoes in Russia, where he features prominently in felony case evidence. Together with the news outlets ​Proekt and ​VTimes,​ ​Meduza e​ xplains how a deputy director at the Deposit Insurance Agency managed to collect tens of billions of rubles from bankers, and we explore who else got rich on the massive bankruptcies and bank restructurings(“sanitizations”) that are considered one of Russian Central Bank Chairwoman Elvira Nabiullina’s major achievements.
This story, in a nutshell:
In recent years, Russia’s Central Bank printed an enormous sum of money in a campaign to restructure the country’s major banks and liquidate smaller failing financial institutions. ​Meduza​ and its media partners spoke to sources and obtained testimony from witnesses who described vast abuses of authority by senior officials in the Deposit Insurance Agency (DIA), a Russian state corporation responsible for various insolvency procedures.
12 ​RUSSIA Country Report​ January 2021 ​ ​www.intellinews.com