Posted: 12 Sep 2015 09:00 PM PDT
According to Russia's Banki.ru, as part of a probe in the Admiralty
bank, the central bank regulator questioned the existence of the bank's
reported quantity of precious metals held in reserve. Citing a source,
Banki.ru notes that as part of its probe, instead of gold, the
"regulator found gold-plated metal." The Russian website further adds
that according to "Admiralty" bank's financial statements, as of August 1
the bank had declared as part of its highly liquid assets precious
metals amounting to 400 million roubles. The last regulatory probe of
the bank was concluded in the second half of August, said one of the
Banki.ru sources. Another source claims that as part of the probe, the
auditor questioned the actual availability of the bank's precious metals
and found gold-painted metal.
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