Bank Menatep
Mikhail Khodorkovsky, International Monetary Fund, 1998 Russian financial crisis, Central Bank of Russia
978-613-6-61334-5
6136613344
76
2012-05-03
34.00 €
eng
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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Bank Menatep was a US$29 billion holding company created by Mikhail Khodorkovsky, that had indirect controlling interest in Yukos Oil Company. It was involved in the US$4.8 billion diversion of International Monetary Fund funds. The bank's financial condition was seriously damaged during the 1998 financial crisis due to a requirement by the Russian Central Bank that all commercial banks keep an economically untenable proportion of their reserve requirements in Russian treasury bills known as GKO, which subsequently collapsed, causing a default which led to the crisis and Bank Menatep's bankruptcy. The Central Bank revoked Menatep's licence in May 1999. However, according to Ernest Backes, former #3 of Clearstream, a clearing-house which has been qualified as a "bank of banks", Menatep maintained an unpublished secret account at Clearstream until at least 2000
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