Ūkio bankas

{{Short description|Company in Lithuania}}

{{Infobox company

| name = AB Ūkio bankas

| logo = Ūkio-bankas-Logo.svg

| logo_size =

| caption =

| type = Public company

| fate =

| predecessor =

| successor =

| foundation = 1989

| founder =

| defunct = 2013

| location_city = Kaunas

| location_country = Lithuania

| location =

| locations =

| area_served =

| key_people = Gintaras Ugianskis (Chairman of the Board)

| industry = Financial services

| products = Retail banking, mortgage loans, corporate banking

| services =

| traded_as = {{OMXBaltic|LT0000102352|UKB1L}}

| revenue =

| operating_income =

| net_income =

| aum =

| assets =

| equity =

| owner =

| num_employees =

| parent =

| divisions =

| subsid =

| homepage =

| footnotes =

| intl =

}}{{Expand Russian|Ūkio bankas|date=January 2021}}Image:Ukio Bankas banch in Laisves aleja.JPG, Kaunas]]

Ūkio Bankas was a Lithuanian commercial bank based in Kaunas. More than 50% of shares are owned by Lithuanian businessman Vladimir Romanov who therefore was in the control of the bank.{{Cite web|url=http://www.ub.lt/ShowPage.aspx?MenuC=1917&ShowDoc=inv.akcininku_struktura&PageLang=ENG&PageFontSize=|title=AB Ūkio bankas - Shareholder structure|website=www.ub.lt}} It was the fifth largest and oldest private bank in Lithuania.

In October 2006, during an internet conference on the news portal Delfi.lt Vladimir Romanov announced his plans to sell his shares to the strategic investor. GE Money, a branch of General Electric, as one of the possible buyers was mentioned by Romanov.[http://www.lhv.lt/news/index.cfm?id=924844 LHV, 15 October 2006]

In common with other banks Ūkio Bankas suffered from the effects of credit crunch and on 26 August 2008, rating agency Standard & Poor downgraded the banks status from stable to negative.{{cite web|last=Collier|first=Mike|url=https://www.baltictimes.com/news/articles/21193/|title=S&P downgrades Ukio|date=28 August 2018|publisher=The Baltic Times |access-date=7 October 2008}}

The organisation sponsored the Lithuanian football club FBK Kaunas and the Scottish team Hearts. Romanov was the owner of Hearts and a board member of FBK Kaunas.

Ūkio bankas has been associated with money laundering known as the ŪkioLeaks{{cite news |url=https://www.15min.lt/verslas/naujiena/finansai/ukio-bankas-milijardines-pinigu-plovimo-sistemos-centre-662-1110846 |title=Ūkio bankas – milijardinės pinigų plovimo sistemos centre |trans-title=Ūkio bankas is at the center of the billion-dollar money laundering system |work=15min |last=Černiauskas |first=Šarūnas |date=4 March 2019 |access-date=23 November 2019 |language=lt}} or Troika Laundromat.{{cite web|url=https://www.knack.be/nieuws/belgie/belgie-het-doorgeefluik-voor-10-miljard-euro-van-witwasbank-ukio-bankas/article-normal-1436781.html|title=België, het doorgeefluik voor 10 miljard euro van 'witwasbank' Ukio Bankas|trans-title=Belgium, the channel for 10 billion euros from 'money laundering bank' Ukio Bankas|first=Kristof|last=Clerix|date=4 March 2019|access-date=7 March 2019|website=www.knack.be|language=nl}}{{cite web|url=https://www.trouw.nl/home/bijna-een-miljard-euro-stroomde-vanuit-litouwen-naar-nederland~a709d2f1/|title=Bijna een miljard euro stroomde vanuit Litouwen naar Nederland|trans-title=Troika laundromat. Nearly a billion euros flowed from Lithuania to the Netherlands|last1=Kleinnijenhuis|first1=Jan|last2=Kuijpers|first2=Karlijn|website=Trouw|date=4 March 2019|access-date=7 March 2019|language=nl}}{{cite news |last=Nikbakhsh |first=Michael |url=https://www.profil.at/wirtschaft/akte-rebasso-10671153 |title=Die Akte Erich Rebasso: Protokoll einer unglaublichen Affäre. Der 2012 ermordete Wiener Rechtsanwalt Erich Rebasso wusch in großem Stil Geld für russische Klienten. Über ein Konto der Wiener Raiffeisenbank transferierte er rund 100 Millionen Euro aus organisierter Kriminalität. |trans-title=The Erich Rebasso files: minutes of an unbelievable affair. The Viennese lawyer Erich Rebasso, murdered in 2012, laundered money on a large scale for Russian clients. He transferred around 100 million euros from organized crime through an account with the Vienna Raiffeisenbank. |language=de |work=profil (profil.at) |date= |access-date=26 October 2021}} Reported by Organized Crime and Corruption Reporting Project (OCCRP) as the Russian Laundering Machine on 22 November 2011,{{cite news |url=https://www.reportingproject.net/proxy/en/russian-laundering-machine |title=Russian Laundry Machine |work=Organized Crime and Corruption Reporting Project (OCCRP) |date=22 November 2011 |access-date=11 January 2020 |language=en}} Ūkio bankas{{cite news |url=https://www.reportingproject.net/proxy/images/MONEY_LAUNDERING_SCHEME.jpg |title=Ukios Bankas money laundering image |work=Organized Crime and Corruption Reporting Project (OCCRP) |date=22 November 2011 |access-date=11 January 2020 |language=en}} used stolen Hermitage Capital Management subsidiaries{{cite web |url=https://www.reportingproject.net/proxy/jdownloads/Russian%20Laundering%20Machine/doc_nomirex_03.pdf |title=Re: Money Laundering Suspicion Report/Accounts at Credit Suisse(Zurich) |work=Organized Crime and Corruption Reporting Project (OCCRP) |last=Micklethwaite |first=Neil |date=28 January 2011 |access-date=11 January 2020 |language=en}}{{efn|Diron Trade LLP, a stolen company with a Great Britain postal box, assisted in $5.8 billion in money laundering transfers between Swedbank's baltic subsidiaries and Danske Bank's branch in Tallinn during 6 months in 2010 and 2011 according to SVT.{{cite news |url=https://en.rebaltica.lv/2019/03/mega-donor-to-pro-russian-party-benefits-from-magnitsky-and-azerbaijani-laundromats/ |title=Mega-donor to pro-Russian party benefits from Magnitsky and Azerbaijani laundromats |work=Re:Baltica |last1=Spriņģe |first1=Inga |last2=Shedrofsky |first2=Karina |date=20 March 2019 |access-date=11 January 2020}}}} HSBC Guernsey Ltd,{{efn|The Hermitage Capital Management owned company HSBC Guernsey Ltd was stolen in autumn 2007 by the Kazan, Tatarstan company OOO Pluton owned by Viktor Markelov.}} OOO Rilend, OOO Parfenion, and OOO Markhaon{{efn|Magnitsky maintained that the three Russia-based companies OOO Rilend, OOO Parfenion, and OOO Markhaon were stolen by Pluton Ltd. Viktor Markelov became owner of Pluton Ltd. in July 2007.{{cite news |url=https://www.themoscowtimes.com/2010/10/19/court-rejects-hermitage-lawsuit-a2323 |title=Court Rejects Hermitage Lawsuit |work=The Moscow Times |last=Krainova |first=Natalya |date=19 October 2010 |access-date=25 January 2020 |language=en}} The Hermitage Capital Management owned Cyprus-based subsidiaries, Glendora Holdings Ltd. and Kone Holdings Ltd., had 100% ownership of Riland Ltd. and Parfenion Ltd., and Makhaon Ltd., respectively.{{cite news |url=http://russian-untouchables.com/eng/2010/10/moscow-court-rejects-hermitage-lawsuit/ |title=Moscow Court Rejects Hermitage Lawsuit |work=Russian Untouchables |via=The Moscow Times |date=20 October 2010 |access-date=25 January 2020 |archive-date=29 November 2010 |archive-url=https://web.archive.org/web/20101129182045/http://russian-untouchables.com/eng/2010/10/moscow-court-rejects-hermitage-lawsuit/ |language=en}}}} to finance through Bristoll, Nomirex and Tormex, Al-Shabaab's Russian weapons built by Ukraine and pro Kremlin South Sudan militants weapons transfers from Ukraine.{{cite news |url=https://www.reportingproject.net/proxy/p62.jpg |title=Rhetoric or Restraint |work=Small Arms Survey |location=Switzerland |pages=61–3 |date=2009 |access-date=11 January 2020}}{{efn|Under pro Russia, pro Kremlin, and pro Putin Viktor Yanukovych's second government, three weapons shipments were authorized for Mombasa, Kenya and the Kenyan military of 110 Ukraine built T-72 tanks and their shells, Grad rocket launchers, artillery pieces, anti aircraft guns, RPG-7 grenade launchers, ammunition, and five containers of AKM assault rifles. However, one shipment was hijacked by Al-Shabaab militants associated with Somali pirates and all three shipments' cargoes were sent to forces close to the pro Kremlin South Sudan militants. In September 2008, the MV Faina sailed from the Port of Oktyabrsk in Korabyelniy Raion ({{langx|uk|Корабельный район}}) near Mykolaiv,{{cite news |url=http://www.worldportsource.com/ports/maps/UKR_Port_of_Oktyabrsk_1575.php |title=Port of Oktyabrsk |work=World Port Source (WPS) |access-date=11 January 2020}} Ukraine with armaments bound for Mombasa for the Kenya Defense Forces but the ship was hijacked by Somali pirates. It arrived in October 2007. On 12 December 2007, the MV Beluga Endurance with Phoenix Transport Services of Ukraine sailed from Oktyabrsk and arrived in Mombasa on 12 January 2008.{{cite news |url=https://www.reportingproject.net/proxy/en/the-latvian-proxies |title=The Latvian Proxies |work=Organized Crime and Corruption Reporting Project (OCCRP) |last1=Springe |first1=Inga |last2=Graham |first2=Stack |date=15 March 2012 |access-date=11 January 2020}}{{cite news |url=https://rebaltica.lv/ |title=Re:Baltica |last=Springe |first=Inga |access-date=11 January 2020}} In 2008, two arms shipments from Ukraine were intended to support pro Russia pro Kremlin, pro Putin forces in South Sudan during the civil war in South Sudan, but Ukrainian leaders lied about the destination of the armaments which United States diplomats denounced.{{cite news |author=Kyiv Post staff |url=http://www.kyivpost.com/news/nation/detail/92515/ |title=U.S. official accuses Ukraine of lying about 2008 arms shipments to Sudan |work=Kyiv Post |date=10 December 2010 |access-date=20 August 2021 |archive-date=15 December 2010 |archive-url=https://web.archive.org/web/20101215214331/http://www.kyivpost.com/news/nation/detail/92515/}}}} Sergei Roldugin was a client during this money laundering scheme.{{cite news |last1=Meyer |first1=Henry |last2=Eglitis |first2=Aaron |last3=Reznik |first3=Irina |url=https://www.bnnbloomberg.ca/the-face-of-latvia-s-scandal-ridden-financial-system-is-caught-in-a-corruption-case-1.1142412 |title=The Face of Latvia's Scandal-Ridden Financial System Is Caught in a Corruption Case |work=BNN Bloomberg |date=25 September 2018 |access-date=16 September 2022 |archive-date=8 September 2022 |archive-url=https://archive.today/20220908000000/https://www.bnnbloomberg.ca/the-face-of-latvia-s-scandal-ridden-financial-system-is-caught-in-a-corruption-case-1.1142412}}{{cite news |author=Christmas, John; and The Shift Team |url=http://theshiftnews.com/2020/08/06/two-countries-two-murders-that-deserve-answers/ |title=Two countries, two murders that deserve answers |work=The Shift News |date=6 August 2020 |access-date=16 September 2022 |archive-date=16 September 2022 |archive-url=https://web.archive.org/web/20220916195936/http://theshiftnews.com/2020/08/06/two-countries-two-murders-that-deserve-answers/}}

Arnis Lagzdins was the compliance official at Ūkio Bankas during the money laundering and had previously held the same position at Parex Bank in Latvia when enormous sums were money laundered allegedly through Parex Bank and its sister firm Overseas Services by Vladimir Putin, Yuri Chaika, and the Russian Mafia including the Tambovskaya Organized Crime Group which looted various governments according to Spanish prosecutors.{{cite news |url=http://eububble.eu/cyprus-and-the-european-bank-for-reconstruction-and-development |title=Cyprus and the European Bank for Reconstruction and Development: Bank of Cyprus is the dominant retail bank in Cyprus. However it also has a second role, as a bank for offshore Russian deposits. Therefore it is interesting to look at the ownership of this important international bank. Bank of Cyprus maintains representative offices in Moscow and St Petersburg, Russia. The reason why Cyprus is popular with Russian depositors is the 10% corporate tax rate in Cyprus and the tax treaty between Russia and Cyprus preventing double taxation. Plus, of course, the weather is warmer and salaries are higher in Cyprus compared with Russia and thousands of Russians reside in Cyprus. |work=eububble |date=1 February 2021 |access-date=16 September 2022 |archive-date=15 January 2022 |archive-url=https://web.archive.org/web/20220115024557/http://eububble.eu/cyprus-and-the-european-bank-for-reconstruction-and-development}}{{cite news |author=The Shift News Team |url=http://theshiftnews.com/2020/08/06/two-countries-two-murders-that-deserve-answers/ |title=Two countries, two murders that deserve answers |work=The Shift News |date=6 August 2020 |access-date=16 September 2022 |archive-date=8 September 2022 |archive-url=https://archive.today/20220908000000/https://theshiftnews.com/2020/08/06/two-countries-two-murders-that-deserve-answers/}}{{cite news |last1=Jemberga |first1=Sanita |last2=Purina |first2=Evita |url=https://www.baltictimes.com/us_pressures_latvia_to_clean_up_its_non-resident_banks/ |title=US pressures Latvia to clean up its non-resident banks |work=The Baltic Times |date=10 February 2016 |access-date=16 September 2022}}

In February 2013, the bank was revealed to have poor asset quality, weak risk management and a lack of proper operating data. The check also revealed that the bank had ignored the central bank's recommendation to reduce operating risks. On 12 February, the Bank of Lithuania in accordance with Art. 76 of the Law on Banks of the Republic of Lithuania (the “Law on Banks”) announced a partial and temporal restriction on activities (the “Moratorium”) of AB Ūkio bankas.{{Cite web|url=https://www.lb.lt/lt/naujienos/laikinai-apribota-ukio-banko-veikla-paskirtas-banko-laikinasis-administratorius|title=Laikinai apribota Ūkio banko veikla, paskirtas banko laikinasis administratorius|website=www.lb.lt}} Ūkio bankas was removed from the Lithuanian stock exchange later that month,{{cite web|url=http://www.baltic-course.com/eng2/finances/?doc=70962|title=Ukio Bankas removed from NASDAQ OMX shares list|date=26 February 2013|publisher=The Baltic Course|access-date=26 February 2013}} with many of its assets and liabilities transferred to Šiaulių bankas.