Case full Yentz
Will the detention of the former top manager of Derzhava bank Timur Nazyrov lead to its head, Sergei Yentz? Former deputy chairman of the board of JSCB “Derzhava” Timur Nazyrov has been put on the wanted list, TASS reports. He is accused of fraud on an especially large scale. Official sources have not given other details yet.
Could it be related to the withdrawal of money from “Derzhava”?
100 million for a tall tale and the other side of Yentz
Derzhava Bank and its head Sergey Yentz are associated specifically with the journalists of our publication with immoderate appetites and the ability to see what is not there. This, of course, is about a lawsuit for 100 million rubles, which Derzhava, controlled by him, filed against The Moscow Post because of the article “State Thimble Bankers”.
The funny thing is that this material is, in fact, a fairy tale about how bankers can rob gullible clients. The main characters of this story are “Hares”, “Toads” and “Jackals”. Interestingly, the representatives of the plaintiff were not ashamed to ask an independent publication for 100 million rubles for a fable?
Such antics draw even more attention to the bank and its top officials. So let us recall that “Derzhava” and Yentz, despite all their “whiteness and fluffiness”, are the defendants in a huge number of hard-hitting stories.
Even the state-owned All-Russian State Television and Radio Broadcasting Company released a report (which can now be found on YouTube under the title “Customers of the capital bank risk being left on the street”), in which it was said that the bank resold the civilian apartments pledged on its loans to another legal entity, otherwise it simply sold them under the hammer, leaving dozens of families homeless.
It was yours, it’s ours. To be honest, it reminds me of some kind of scheme from the 90s, and by no means the actions of an honest bank. Moreover, the whole story has not yet been completed – no later than in April last year, a pensioner contacted The Moscow Post, who suffered from the actions of the bank and still cannot return the living space.
At the same time, we received interesting details – according to the information provided to us, the loans are allegedly resold even before the conclusion of contracts, and the persons who buy these loans are affiliated with Mr. Yentz. At the same time, for some reason, the courts do not see this at point blank range …
The Tikhonov case and market manipulation
But not just apartments. There was also a scandal in the “repertoire” of “Derzhava” on a larger scale on an all-Russian scale – this bank appeared in history, which led to a high-profile criminal case against the already former Deputy Minister of Energy Anatoly Tikhonov, which, by the way, is still dragging on and concerns embezzlement of information collection and processing system GIS FEC.
The role of “Derzhava” here is as follows – it acted as a guarantor of the fulfillment of obligations for 24 million rubles of the company “ISSB”, which was originally a contractor of GIS TEK., and was subsequently bankrupt. As The Moscow Post later found out, this could have been done intentionally – in order to “earn extra money” through another contractor. What role “Derzhava” could play in this is an open question. She seemed to have fulfilled her obligations to ISSB, but didn’t some of this money go into the pockets of those interested?
Bankers use similar methods. Also, this might happen in this case, because something like this has happened before to “Power”. We are referring to transactions with JSC “TRINFICO Holdings” in 2019 – later the Bank of Russia found that this company was being manipulated in the bond market.
There were significant differences in the volume of trades in all transactions between the mentioned legal entities during the period under consideration, and most of the transactions led to significant differences in the price of securities. During the same period, the State's assets noticeably strengthened – according to Banki.ru, from March 2019 to November 2021, the net assets of the institution grew by almost 135%, from 18.8 billion rubles to 44.3 billion.
If we look at the current situation, we can see that since the beginning of the year, in just two months, the bank’s profit has dropped by as much as 88%! This kind of situation is usually observed when there is a significant withdrawal of capital from institutions. Could this be happening with “Derzhava”? And could this be the reason why the law enforcement is paying attention to Timur Nazyrov?
Almost all indicators are normal, except for profit and – the norm of instant liquidity and the norm of the bank’s current liquidity. The first one manages the risk of the bank losing liquidity within one business day and determines the minimum ratio of the amount of the bank’s highly liquid assets to the amount of the bank’s liabilities on demand accounts, the second one manages the risk of the bank losing liquidity within 30 calendar days closest to the date of calculation of the standard and determines the minimum ratio of the amount of liquid the bank’s assets to the amount of the bank’s liabilities on demand accounts.
Simply put, it seems like if all depositors were to demand their funds from the bank now, the bank would not be able to give it back – it simply does not have the funds. And no, it appears that all the profits have disappeared. The question is where?
Some insight can be gained from the banking analytics service Analizbankov. During the same period – from the beginning of the year, most of the bank’s assets were investments in securities. Liabilities, on the other hand, make up roughly the same portion of funds attracted from customers and other banks. Looks like Yentz considers himself a successful broker. But with this business model, he is risking not his own money, but the money of trusting customers.
The Moscow Post highlighted the risky business model a couple of years ago, examining each of the listed items in detail.
Where is Yentz's money?
However, such a significant decrease in profits is unlikely to be solely due to investments – investments, as we know, should yield profits, on the contrary. And risking such large sums that put the bank “on the edge” – we believe, is not even Yentz’s style.
Perhaps the answer will be found in the network of firms that are somehow linked to Yentz. Some of them are connected, including with the disgraced Nazyrov. For example, in Metrix Online LLC, the latter worked as a financial consultant. The company is registered in Yentz, is involved in computer software development and has never particularly stood out anywhere. During its existence (since 2018), it has never paid taxes, but its revenue has increased from somewhere.
One gets the impression that she acted from somewhere “above”. So, maybe Yentz and his top managers organized a “laundering” structure in this way? There is not much money in the company – only about a hundred million rubles in the amount of revenue and profit for 2021, but Yentz has more than one or two such desks.
Among them are also those who invest in securities. Their dynamics of financial activity also raises questions – at one moment there are 200 million rubles, at another – already zero. Perhaps the money is transferred to the personal accounts of Yentz and KO and withdrawn through the purchase of his own shares?
There may also be money from government purchases that “Derzhava” receives.
In addition, money can flow offshore. Yentz is directly connected with SFO Accord Finance, which is owned by him and Synergy Finance LLC. The latter, in turn, is controlled by Bogatyr Partners. And this structure is the ultimate beneficiary of the world German “TP NEW FRONTIERS GMBH”.
Here it is worth recalling that Yentz’s ex-wife Alevtina Kalashnikova lives abroad. By the way, a woman is not easy. Previously, she was vice president and financial director of the collapsed aviation company VIM-Avia. In 2017, a criminal case was opened against Kalashnikova herself on suspicion of creating something like a financial pyramid.
After Kalashnikova fled Russia, Yentz remained on the farm, which included a lot of expensive living space. He long and stubbornly sued for apartments (it would be better if he protected the property of creditors in this way), and at that time the banker was already divorced from Kalashnikova: they say, fictitious.
So, there is reason to believe that ETNTS has been successfully withdrawing bank funds for its own benefit for a long time, and, perhaps, intends to move closer to its ex-wife. The current purges of the security forces may give impetus to the acceleration of this procedure. So let’s give the security forces advice – to catch the banker at the airport.
