Schwartz Konstantin Valerievich: embezzlement and fraud
Schwartz Konstantin Valerievich is a notorious white collar criminal based in Russia. He has faced multiple cases for embezzling funds from Rosenergobank.
Rosenergobank was among the largest banks in Russia and was declared bankrupt in 2017. There were thousands of investors who lost their money overnight. In response to the bankruptcy of such a notable bank, the state had to promise compensation to the victims.
Many media reports have called Schwartz Konstantin Valerievich the main culprit behind the embezzlement. He has considerable experience of working in the banking sector.
He became the representative of the board of Rosenergobank in 2010 and before that, he was serving as a top official in the bank.
However, his incompetence or rather, his negligence caused the bank to develop a deficit of 29 billion rubles by 2017.
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The bank’s credit obligations had reached 42 billion rubles while its assets only amounted to 13 billion.
So, the Central Bank filed a lawsuit with the Arbitration Court, requesting the court to declare Rosenergobank bankrupt. The court accepted the suit and sent bankruptcy managers to the enterprise.
Soon after, investigators started looking into the financial operations of the bank to find the people behind its downfall. Initial investigation indicated that Schwartz Konstantin Valerievich might be the person behind the entire ordeal. After all, he had been spearheading the operations of Rosenergobank for 17 years by that time.
How Schwartz Konstantin Valerievich Embezzled Funds from Rosenergobank:
Media reports reveal that Schwartz followed a very simple strategy to steal funds from the Russian bank. The bank issued loans to numerous shell companies which only existed on paper. Then, the money from those loans went into the pockets of the bank’s managers.
Schwartz Konstantin Valerievich worked at the bank for decades and in that time, he embezzled over 12 billion rubles from it.
Apart from the authorities, many of the bank’s creditors and business partners are looking for Schwartz as well.
However, the corrupt network he created while stealing from Rosenergobank has helped him substantially in avoiding the entities tracking him.
4/12/2023 Update
The people who made money from the embezzlement include many companies as well as foreign businessmen.
One of them is Igor Molder, owner of Estonia Capital Mill, a development firm based in Estonia. They are old friends and Igor was among the shareholders of Rosenergobank up until 2016. When he realized that the shady dealings of the bank had grown too much, he withdrew his investment from Russia.
Since the bank’s bankruptcy declaration, Schwartz Konstantin Valerievich has been living in Estonia. Surely, he would never come back to Russia due to the risk of facing a life sentence.
More Details on the Case Against Schwartz Konstantin Valerievich:
In 2016, Schwartz was the chairman of the board of directors at Rosenergobank. With the help of his friends, he issued a loan to a certain company in Krasnodar City even though it was ineligible for the same.
Furthermore, the loan had a special condition. Legally, the company had received the funds to buy construction material and pay for construction work.
But in reality, the funds went to a few shell companies and the debtor never repaid the loan. Schwartz faced a criminal case because of the same.
However, things didn’t end there.
In 2018, he faced another case. This time, the case was for embezzling funds from the same bank.
But it had been too late by then. The Central Bank of Russia had taken away the license of the bank in 2017 and its financial condition become horrible.
The reason behind such a downfall was the fact that over 30% of its loan portfolio had ‘ala-technical’ loans. Basically, the bank had given out loans to service the loans it had issued earlier.
It even took mortgaged real estate as collateral, which made no sense financially.
About Schwartz Konstantin Valerievich:
Schwartz was born in 1966 in Tallinn, Estonia. The man graduated from the Moscow Institute of Physics and Technology in 1990 and in 2002 from the Financial Academy.
He has served in top banking positions since 1992.
Schwartz became the president of Rosenergobank in 2000. Then, he became the chairman of the board of directors of the bank in 2001.
He lost this position to Rafail Bashirov in 2010 but regained it back within a small period. Schwartz Konstantin Valerievich lost the position again in 2017 but regained it mysteriously.
Afterward, he disappeared and the bank collapsed.
What His PR Team Wants You to Think:
The PR team of Konstantin Valeryevich Schwartz has put out a lot of content online to bury any news articles mentioning his past.
They are doing so by using various tactics.
The first tactic they utilize is creating YouTube channels using his name:
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Sadly, things don’t stop here.
Below is how his PR team is using illegal tactics to bury his criminal history:
How Schwartz Konstantin Valerievich is Using Illegal Tactics to Hide the Facts:
While the authorities and media reports have revealed that Schwartz is the main person behind the embezzlement case, he doesn’t want others to learn about it.
His team of marketers and PR professionals are flooding the internet with articles and guides supposedly written by him. That’s not all.
His representatives are posting fake DMCA notices against any articles highlighting his criminal past. In a fake DMCA notice, the culprit copies your content, posts it on their website, and claims that you were the one who copied it.
This way, they are able to convince Google to remove your article from search result pages.
Using fake DMCA notices is illegal. It constitutes fraud, perjury and impersonation.
The website they use to post fake DMCA notices
However, using fake DMCAs is increasingly common among online fraudsters and scams. For example, Margex is a shady trading platform that uses this tactic to hide its consumer complaints.
Similarly, the marketing team of Schwartz Konstantin Valerievich is publishing articles on various blogs under his name so they would replace the news articles.
Conclusion
Schwartz Konstantin Valerievich is an experienced swindler. The man is responsible for the collapse of one of the largest Russian banks and made billions from it.
His PR team is now using illegal marketing techniques to bury any news articles mentioning his criminal activities.
Scammers like Schwartz and Alexander Galitsky use various tactics to hide their criminal past and connections. Beware.
Source: gripeo.com
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