Mysterious Russian company vanishes after posting eye-watering $37B profit
Banknota LLC, a Russian company that reported a staggering profit of $37.1 billion last year, has mysteriously disappeared. The company's financial records indicate an income of $40.4 billion for the previous year, positioning it alongside major energy corporations like Rosneft and Gazprom. However, investigations have revealed several inconsistencies in Banknota's operations and ownership, leading to speculation about its sudden disappearance.
Operations and ownership raise questions
Banknota, whose now-defunct website is accessible via the Wayback Machine, claimed to specialize in auto loans and mortgages. However, Russian media outlet RTVI has revealed that the firm did not possess a banking license. The owner of Banknota, Dmitry Frolov, has a minor criminal record and is deemed "unreliable" by the Russian tax administration. These findings have raised questions about the legitimacy of Banknota's operations.
Registration and suspicious addresses
Further investigation into Banknota revealed that it was registered in June 2023, along with four other companies. These companies were linked to questionable addresses such as a business center or a basement. Current occupants of these locations have denied any knowledge of Frolov or his companies, adding another layer of mystery to the case.
Experts question Banknota's business model
Experts have expressed skepticism about Banknota's business model and the massive profits it claimed to have generated. They suggest that the firm may have been involved in brokering deals, rather than conducting legitimate banking activities. Also, while Banknota reported a branch in Belarus to Russian tax authorities last December, no record of such a branch exists in Belarusian business registries.
Speculation about Banknota's funds and financial figures
Some experts believe that Banknota LLC might have transferred its funds abroad before disappearing completely. One expert commented on the company's financial figures, stating they could not "be taken seriously."
