MINSK, 19 December (BelTA) - The latest episode of the documentary series Time Chose Us aired by the Belarus 1 TV channel looked into the scam by BelBaltia Bank in 2001 and the president’s response, BelTA has learned.
When will the money be returned and who will answer? These questions were asked every day in 2001 by the depositors of the BelBaltia commercial bank. About $18 million of the bank's depositors ended up in the offshore accounts of BelBaltia's owners.
The joint Belarusian-Latvian bank BelBaltia was established in 1994. The owners were siphoning off money from depositors’ accounts technically and systematically. Several thousand payment transactions were made over several years. When the criminal scheme was uncovered, the founders did a runner.
The situation was rectified only after intervention of Aleksandr Lukashenko. The president signed a decree to repay the debt.
“Today, every depositor of the BelBaltia bank can apply to the bank institutions and get back their money,” said Valentina Lukyanenko, first deputy Chairperson of the Board of Belarusbank in 2001.
When will the money be returned and who will answer? These questions were asked every day in 2001 by the depositors of the BelBaltia commercial bank. About $18 million of the bank's depositors ended up in the offshore accounts of BelBaltia's owners.
The joint Belarusian-Latvian bank BelBaltia was established in 1994. The owners were siphoning off money from depositors’ accounts technically and systematically. Several thousand payment transactions were made over several years. When the criminal scheme was uncovered, the founders did a runner.
The situation was rectified only after intervention of Aleksandr Lukashenko. The president signed a decree to repay the debt.
“Today, every depositor of the BelBaltia bank can apply to the bank institutions and get back their money,” said Valentina Lukyanenko, first deputy Chairperson of the Board of Belarusbank in 2001.
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