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Troika Dialog complied with highest international standards, Vardanyan's Office says
2019-03-05 15:01:33

Troika Dialog Group has acted in full compliance with the highest international standards of transparency and financial reporting, Ruben Vardanyan’s office said in a statement today.

Furthermore, the statement continued, the company took an active part in the formation of a civilized financial market in Russia.

The comments come in the wake of reports claiming that the Russian Troika Dialog bank led by Armenian billionaire Ruben Vardanyan managed a network of offshore companies moving billions out of Russia.

Dubbed the Troika Laundromat, the investigation alleged that Troika Dialog created and operated a $8.8 billion scheme.

However, the report stresses that no evidence has been found that Vardanyan was ever investigated or accused of any wrongdoing by authorities. His signature was found on only one document in the entire scheme, in which he gives a loan to a Troika Laundromat company.

Vardanyan sold Troika in 2012 to the giant Russian state-controlled Sberbank, for a reported $1bn.

“Since the sale of Troika Dialog Group to Sberbank in 2012, Mr. Vardanyan has devoted much of his time and resources to philanthropic activities. The family of Mr. Vardanyan made a commitment, earlier in the mid-2000s, to invest a large part of his fortune into charitable projects,” Vardanyan’s office said.

The statement said more detailed commentary will be made after a thorough analysis and evaluation of the report.