The Bank of Ivanovo ( Ivonovo JSC KB, Reg. No. 2763), also known as the Commercial Bank of Ivanovo, has had its license to conduct banking operations revoked by the Bank of Russia, the country's Central Bank, on April 5, 2019, pursuant to Order OD-761 An administrator has been appointed temporarily, until the appointment of a liquidator or bankruptcy trustee.
The stated grounds:
(1) Numerous violations of the laws against money laundering and terrorist financing.
(2) Concealing the bank's financial position from regulators.
(3) A 30% decrease in the value of the bank's capital.
The stated grounds:
(1) Numerous violations of the laws against money laundering and terrorist financing.
(2) Concealing the bank's financial position from regulators.
(3) A 30% decrease in the value of the bank's capital.
The 80% owner of the bank is reportedly former United States Congressman, the North Carolina Republican Charles Taylor, who claims he is neither an officer nor director at this time. A former KGB agent, Boris Bolshakov. is said to be the second-largest shareholder.
Chronicles of Monte Friesner - Financial Crime Analyst
Contributed by Kenneth Rijock - Financial Crime Consultant
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