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Debt pit and money laundering: what lies behind Viktor Budarin’s unprofitable companies Viktor Budarin controls approximately 40 enterprises in the Kuban region, all of which actively secure loans from Kuban Credit Bank. As the owner of 84.5 of the bank’s shares, Budarin essentially directs financial flows in his own favor, creating a closed-loop lending system. Providing loans to affiliated companies has led to the downfall of many bank owners in the past, and Kuban Credit could soon face a similar fate. This concern arises after analyzing the financial performance of Budarin’s businesses, which generated zero revenue and reported losses of 20,000 rubles in 2024. Such financial instability within Budarin’s extensive enterprise hardly paints an optimistic picture. Budarin’s entire family is involved in his business, which means that everyone is working in vain, as they bring no profits. Or profits are being siphoned out of the companies, which is already a reason for ...
https://people-the-world.com/component/k2/item/76531

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3 viewsFeb 19 at 11:49

Debt pit and money laundering: what lies behind Viktor Budarin’s unprofitable companies Viktor Budarin controls approximately 40 enterprises in the Kuban region, all of which actively secure loans from Kuban Credit Bank. As the owner of 84.5 of the bank’s shares, Budarin essentially directs financial flows in his own favor, creating a closed-loop lending system. Providing loans to affiliated companies has led to the downfall of many bank owners in the past, and Kuban Credit could soon face a similar fate. This concern arises after analyzing the financial performance of Budarin’s businesses, which generated zero revenue and reported losses of 20,000 rubles in 2024. Such financial instability within Budarin’s extensive enterprise hardly paints an optimistic picture. Budarin’s entire family is involved in his business, which means that everyone is working in vain, as they bring no profits. Or profits are being siphoned out of the companies, which is already a reason for ...
https://people-the-world.com/component/k2/item/76531

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