Against the backdrop of President Medvedev’s new “breakthrough” super-initiatives to combat corruption (with the main, supposedly very harsh measure being a proposal to ban naughty corrupt officials from owning iPhones newer than the 3Gs model—let them suffer), I recommend reading the latest issue of New Times devoted to corruption. Main feature
A Million-Dollar SuspicionWhat the Russian director of the European Bank is accused of Full text about corruption in the Russian branch of the EBRD, whose head, Elena Kotova, quite briskly and with little embarrassment took kickbacks on loans. Kotova was appointed through the patronage of an old “favorite” of mine—VTB chief Andrei Kostin, who, it would seem, was also deeply involved.
According to a The New Times source at the EBRD, who spoke on condition of strict anonymity, all of this is documented, including recordings of phone conversations. The same source said that Kotova never actually received this particular bribe: the businessman refused to pay and filed a complaint with the bank’s headquarters in London. “Why not with the Russian authorities?” a The New Times correspondent asked. “Well, you understand…” came the reply. We do understand, and we know: Elena Kotova was backed by powerful figures in the leadership of Russia’s largest state-owned banks. I very much hope that the London side of the investigation reaches this wonderful character as well—an effective manager, a member of the supreme council of the United Russia party, a major owner of foreign real estate, a large beautiful yacht and a private jet, and many overseas bank accounts.