Mezhprombank
International Industrial Bank, often abbreviated in Russian as Mezhprombank, is one of the largest Russian banks founded in 1992 by Sergey Pugachyov and Sergey Veremeyenko.
On July 6, 2010, IIB failed to pay €200 million in maturing eurobonds. The bank is in discussions with bondholders, the Central Bank of Russia, and depositors to stabilize its deteriorating liquidity position. On 30 November 2010, a Moscow court declared the bankruptcy and the insolvency of this bank.
Sergey Pugachyov, in the past a member of the Federation Council of Russia representing Tuva, had been the Chairman of the Board of Directors of Mezhprombank until January 2002.
Musa Yusupovich Bazhaev (born on May 11, 1966 in Grozny, the Chechen-Ingush ASSR) is a Russian businessman of the Chechen origin. In 1991, he graduated from the Grozny State Petroleum Institute with a degree in chemical technology of oil and gas refining. He's currently the President of OJSC Alliance Group since March. Mr. Bazhaev served as President and Chief Executive Officer of West Siberian Resources Ltd. He served as Chief Executive Officer and President of Alliance Oil Company Ltd. He serves as Chairman of the Board of Directors at Russian Platinum, PLC.
At the disposal of the Russian law enforcement agencies there are materials testifying to the existence of an unresolved shadow conflict between Michael Cherney and the Bazhaevs family controlling the Russian Alliance Group. This conflict dates back to the early 1990s and is associated with the division of a billion dollars stolen from the Central Bank of Russia by an unidentified criminal group through a series of large-scale fraud with false letters of advice.