CPC "Saratov savings": the history of the organization. Saratov savings cooperative: negative reviews and positive

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

CPC "Saratov Savings" is known to Russians as the sad experience of depositors who lost more than 8.5 million rubles. Since 2017, the company has officially ceased to exist, and hundreds of deceived customers still cannot return their money invested at the promised interest. Negative reviews about the Saratov Savings Cooperative are very common. Those unfortunate advise depositors to be more careful about any organization that promises too attractive conditions for financial products.

History

Credit consumer cooperative "Saratov Savings" started its activity in 2011. At that time, the Russians were actively investing, whichmanaged to accumulate after the formation of the economy.

The active phase of the economic crisis in the country is over, and citizens are more willing to transfer cash to the accounts of financial institutions. But banks offered not the most favorable interest on deposits. Not everyone agreed to invest money at 8-10% per annum for 3-5 years, so cooperatives gradually began to gain popularity among Russians.

One of the organizations that offered a very high income on deposits was Saratov Savings. The name is associated with the opening of the first office in the city of Saratov.

Gradually the geography of the cooperative expanded. New branches began to open. Russians could become shareholders in the following cities:

• Engels;
• Balashov;
• Balakovo;
• Penza.

During the first 3 years, the Saratov branch was the leader in customer acquisition. But later Balashov's Saratov Savings PLC became one of the main sales offices.

In other regions of the country, branches of the cooperative did not open, but this did not stop attracting more than 2.5 thousand people into the ranks of shareholders.

The secret of the CCP's success

Credit Consumer Cooperative "Saratov Savings" successfully attracted new depositors and issued loans from 2011 to 2017. During the first 5 years of operation of the PDA, customers were satisfied with everything:

• convenient branch within the city;
• friendly staff;
• guaranteed protection of investments (all deposits, as assuredmanagers were insured);
• availability of bonuses for shareholders;
• issuance of certificates, contracts on demand.

Beginning of financial problems

But in July 2017, the shareholders who decided to withdraw funds from deposits suddenly started having problems. Under the terms of the agreement, early termination provided for the payment of funds at a lower percentage. But in the Communist Party of Balashov, interest payments first began to be delayed, and then stopped altogether. Further, the cooperative began to refuse those who want to completely withdraw cash from deposits.

The clients associated the inability to pay funds to the lack of finances in the fund's branches. Based on the negative reviews about the Saratov Savings Cooperative, it can be assumed that the deficit arose in the company after the mass issuance of loans for amounts exceeding the capital of the fund. In Russia, such activity is illegal and falls under Article 159 of the Criminal Code of the Russian Federation "Fraud" (on an especially large scale).

Closing CPC branches

The refusal to pay funds in Balashov was only the beginning of the destruction of the "financial pyramid", which turned out to be the CCP from Saratov. Following this branch, difficulties began in Penza, Balakovo and Engels.

Depositors one by one were denied the payment of funds on deposits. They no longer dreamed of accruing interest. Those who received cash before July 2017 wrote positive reviews about the Saratov Savings CPC, as they were able to increase their personalsavings at promised interest. But there are no more than 50 such lucky people, in comparison with the deceived investors, in all the cities where the branches of the cooperative were located. The number of shareholders who lost their investments is more than 2.5 thousand people.

Failure to pay interest and deposits led to the closure of the branches of the cooperative. The offices of Balashov and Penza were the first to close. They were followed by branches in Balakovo and Engels.

Closing the head office in Saratov

The situation at the head branch of the financial institution was stable until June 2017. Attractive deposit offers were still published on the official website. Advertising in the city of Saratov interested residents. Therefore, the main branch managed to hold out the longest.

As stated in the local news: "The Saratov Savings Office of CPC Saratov is closed, the needs of depositors are not satisfied." This happened in September 2017. Already at the end of August, all employees of the branch were fired, and the office stopped answering calls even on the hotline.

The Fate of the CCP

The Saratov branch (132 Chernyshevsky Street) has become a place where deceived citizens came for another six months in the hope of getting at least part of the invested funds. But those who understood in advance about the difficulties of the cooperative filed a lawsuit in August 2017. The further fate of the branch is now of interest only to those who still hope that the management of Saratov Savings will pay the funds. Though hopelittle.

After the initiation of the article about fraud in the network, other reviews about the "Saratov Savings" CPC appeared. Depositors from other cities complained that they also had to face the modern "pyramid scheme".

This led the prosecutors to think about the presence of a wide network of companies in which the cooperative under study was only part of the chain. According to official data, since 2017 the Saratov Savings office in Saratov has been closed, there is no news about the resumption of work of other branches in Penza, Balakovo and other cities. But clients still write that they were deceived in the payment of interest and return of invested funds. The conditions specified in the contract and the proposed interest of 14-20% per annum proved the assumptions of government officials.

As a result of the investigation, at the end of 2017, another case was initiated under article 196 of the Criminal Code of the Russian Federation "Intentional bankruptcy". Citizens who did not have time to return investments were recognized as victims. The total amount of damage, according to the results of the investigation into the activities of all companies associated with the CPC, totals more than 140 million rubles.

Opinion of employees of the Saratov savings cooperative

Such a number of deceived citizens (more than 2.5 thousand depositors) is due to the fact that not all clients immediately learned about the problems of the cooperative. Branch employees did not advertise that the Saratov Savings CPC in Saratov was experiencing difficulties untilthey have not been ordered not to authorize the disbursement of funds. The ban on paying interest and deposits came from the leadership of the CCP.

Negative feedback about the Saratov Savings Cooperative was left not only by deceived depositors. Employees were not only on the verge of losing their jobs, but were also forced to misinform citizens. Not all CCP workers agreed to these terms.

In their testimony in the Saratov cooperative case, they indicated that the management forced them to accept funds, despite rumors of a possible bankruptcy. They were forbidden to report any information about problems in the company, on the contrary, managers had to assure clients that their deposits were insured and there was nothing to worry about.

Insurance information

A cooperative from Saratov concluded an insurance contract with NPO MOVS. But the contract expired on August 22, 2017. By this time, hundreds of depositors had already applied for their money, but were refused. At the same time, the insurance company confirmed that the management of the Saratov Savings Cooperative did not apply for the payment of the sum insured before the expiration of the contract. This confirms the validity of opening a criminal case on the fact of deliberate bankruptcy.

Before the bankruptcy of the CPC, he was a member of the Interregional Union of Credit Cooperatives “Opora Kooperatsii”. The compensation fund of the union consisted of 47.3 millionrubles. But in case of bankruptcy, one member of the union could only count on 5% of the amount of the compensation fund.

Payments were made after the issued judicial acts. But the CCP's contributors failed to receive a refund from the union's funds. For violations of the agreement, Saratov Savings was excluded from the list of members in September 2017.

Chances of depositors to return their own funds

Having a valid insurance contract or union membership would allow contributors to receive their investments within 12 months from the date of bankruptcy of the cooperative. But an expired insurance policy and exclusion from the union deprived residents of Saratov and other cities of the opportunity to receive cash in the near future.

This resulted in thousands of negative reviews about the Saratov Savings Cooperative. Clients still leave online information about how they were deceived in order to warn other investors from rash investments. According to reviews, more than 34% no longer expect a refund. 17% write in their comments that they hope to return at least 70% of their investments. The rest, 49%, are confident in the success of the lawsuit.

Lawyers are skeptical about the case of the cooperative from Saratov. According to the answers of lawyers on legal portals, it follows that the chances of a refund are 78%. But the situation is complicated by a large number of documents that must be submitted to the court, and a complex financial fraud scheme created by the leadership of the "Saratov pyramid".

Litigation

Currently in courtthe case of Saratov swindlers in the field of finance is being considered. Hundreds of depositors have already made statements, some of them have already received cash.

According to lawyers, the lack of insurance coverage significantly complicates the payment. If funds in banks up to 1.4 million are insured by the "Deposit Insurance Agency", then such coverage does not apply to CPC.

Deadlines for individual cases have been extended until the end of the 1st quarter of 2019. The sale of KPK property did not bring significant financial results: only 5% of depositors received their money. The rest can count on the closure of branches in other cities, followed by the arrest and sale of the property of shell companies associated with the CCP.

Advice to deceived investors of other "financial pyramids"

Lawyers and former clients of "financial pyramids" from Saratov and not only advise those who fell into such a scheme not to despair and defend their rights. Qualified legal assistance in such a situation is a necessity. And the sooner the depositor turns to lawyers, the more chances he has to receive cash within 6-12 months from the moment the organization is closed.