Results of provisional administration-conducted inspection of management company LLC Capital Asset Management

The provisional administration to manage management company LLC Capital Asset Management (hereinafter, the ‘Management Company’) appointed by Bank of Russia Order No. OD-2663, dated 21 November 2019, following the cancellation of the Management Company’s licence to manage investment funds, unit investment funds and non-governmental pension funds, established that the Management Company’s officials had performed actions causing damage to investment unit owners. In addition, the provisional administration established signs of withdrawing real estate property items from the mortgage collateral pool.

The provisional administration also encountered obstruction to its operations — the Management Company’s officials had failed to pass over to the provisional administration its accounting and other documents, including its foundation and entitling documents, material and other valuables owned by, and entrusted to the Management Company, as well as necessary information and documents on its assets and liabilities.

As the Bank of Russia had a reasonable assumption that the Management Company’s officials had performed financial transactions suspected of being criminal offences, the Bank of Russia submitted this information to the Prosecutor General’s Office of the Russian Federation and the Investigative Committee of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

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28.04.2020 00.00.00