Top managers of two pension funds were accused of embezzlement of savings

The state office of public Prosecutor accuses the former head of non-state pension Fund “Transstroy” Irina Gorin and former head of “Professional independent pension Fund” Anatoly Berg in misappropriation and embezzlement of pension savings. About it reported in a press release on the website of the Prosecutor General of the Russian Federation.

According to investigators, 2009-2013 Gorin and Berg awarded more than 117,8 million rubles of pension accruals funds received on the account of the Fund from FIU. Instead of direct contributions of citizens in managing companies, they mixed their “pension reserves and other assets in settlement accounts funds, and then disposed of them at own discretion”, stated in the message of the Prosecutor General.

The investigation of the criminal case against former managers of pension funds conducted the Investigation Department of the MIA of Russia, the indictment and materials were sent in petty-bourgeois court of Moscow. Gorin and Berg is accused of misappropriation or embezzlement, committed by an organized group or in especially large size. The maximum punishment under this article — imprisonment up to 10 years and a fine of 1 million rubles.

Advisor to the President of the National Association of pension funds Valery Vinogradov said that this is the first time NPF managers prosecuted for theft of clients ‘ assets. “Before that there were stories associated with the withdrawal of the Fund’s assets, but criminal cases not reached”, — he said.

The regulator has revoked the licences of NPF “Transstroy” and “Professional firm” in November 2012. As mentioned in message FSFR, the reason for revocation of the license was that the funds did not fulfill the instructions to eliminate violations of the law on private pension funds. Also funds self invested pension savings, while allowing for a mix of accruals, reserves and other assets of the Fund on the account.

On the date of revocation of the license of their future pension to NPF “Transstroy” held more than 27 thousand people on 1 January 2012 pension reserves of the Fund stood at 313 million rbl., accumulation — 49,7 million roubles.

According to the DIA report, conducted the assessment of the property Fund in June 2014, the inventory was revealed shortfall of assets 455,2 million rubles, which accounted for 98% of the total assets of the NPF. The bankruptcy Trustee revealed that the Fund has invested in bonds of companies “Agroholding-Finans”, “Amurmetall” and open company “Merkury”. Also on the balance sheet of the Fund were the shares of two closed-end mutual funds — “Krasnaya Polyana” managed by the managing company Atlas Capital” and “AG Capital INTERRA”. The total market valuation of these assets amounted to about 4 million rubles., while the balance of these securities were reflected at cost twice above.

Clients NPF “Professional independent pension Fund” was more than 34 thousand people. The Fund managed reserves of 174 million rubles savings amounted to 70 million rubles in the end of 2012, according to data of accounting, the total assets of the NPF were 513,4 million rubles According to the report of the Manager of ACB, checking of Foundation was uncovered the shortage in the amount of 507 million rubles. Such a significant loss to the Fund for the account receivables, the amount of which was estimated at 453,7 million rubles.