20 July 2003
Money borrowed in early 1990s account for most of bad loans in Brest region
The Brest region's enterprises and individuals owed banks 24.8 billion rubels, $6.3 million, EUR 937,300 and 17.9 million Russian rubles on loans as of July 1, 2003, the Regional Prosecutor's Office said.
Debts on loans extended in 1993 and 1994 account for the greater part of this amount. Some of the persons suspected of bank frauds currently stay abroad and criminal proceedings against them have been suspended. Thus, Anatoly Grishchuk, the former head of Belvneshekonombank's regional branch, is suspected of having authorized bad loans estimated at a total of $400,000 and 540
million rubels. Belarus' law-enforcement agencies consider filing an extradition request with the authorities in Poland, where Mr. Grishchuk currently resides. Mikhail Osovsky, director of the Luninets branch of Brestkombank, has been internationally wanted on similar charges.
Many bad loan recipients also fled Belarus. Between 1993 and 2003, the regional prosecutorial agency opened 123 criminal cases on loan fraud charges. Five bank fraud cases have already gone to trial this year.
http://brestonline.com/en/news/news438.html