Vadim Volkov

Picture of Vadim Volkov

Date of Birth: 07/11/1951

Age: 65

Place of birth: Gorky

Citizenship: Russia


Born November 7, 1951 in the city of Gorky (1990 - Nizhny Novgorod).

In 1974 Volkov graduated from the Moscow Engineering and Economics Institute named after S. Ordzhonikidze specialty "Automated control systems in the steel industry."

In 1975, the Wolves started to work in the management of capital construction of the Ministry of ferrous metallurgy of the USSR: an engineer, senior engineer and deputy head of planning and economic department. In 1984 he came to work in the USSR State Planning Committee, where he served as a senior expert, chief specialist and head of section of the composite Department of capital investments.

In 1991, Volkov was appointed head of the department of investments of JSC "Menatep-Invest".

In 1993, the Wolves went to work at the Ministry of Finance, took over as head of the currency department. In July 1999, he became Deputy Russian Finance Minister Alexei Kudrin in charge of issues related to international cooperation and foreign economic activity. In June (on other data - in May) 2004 Volkov was dismissed as deputy minister in connection with the staff reduction.

According to some reports, in the same 2004 Volkov he was elected chairman in industries such the Board of Directors of the Bank "Interregional Investment Bank" ( "IIB") focused on investment activities as engineering, shipbuilding, aviation industry, oil and gas, construction, high technology, as well as the securities and precious metals market. According to others, he was elected to the post in spring 2005. Since 2005, in the press and on the official website of the bank Volkov appeared as chairman and president of "MIB". In 2005, in an interview with Volkov he stressed that the bank he heads specialized in servicing enterprises of the military-industrial complex (MIC), but also paid attention to crediting small and medium business, consumer lending and retail services to the population. Among the clients of the bank, said on the official website, was "Rosoboronexport" and the company "Sodeksim".

November 15, 2007 Volkov, head of the company "Sodeksim" Viktor Zakharov and Deputy Finance Minister Sergei Storchak was detained by law enforcement agencies. The next day the Basmanny court sanctioned the arrest of all those detained and their homes were searched. According to the press-secretary of the Investigative Committee Vladimir Markin, arrest Volkova, Zakharova and Storchak was made on suspicion of attempted theft by fraud "funds from the state budget of the Russian Federation, an organized group on a large scale." Despite this, the head of the press service of the "MIB" Vladimir Melikyan assured that the arrest Volkova on the work of the bank had no effect.

In the press there were different versions of what happened. According to one of them, published in the newspaper "Gazeta", the arrest of defendants in the case has been linked to damage to the budget caused by the repayment of maturing USSR debt to the company "Sodeksim" (it arose even during the Soviet Union`s collapse, but fell into the category of "hung") . Source "Kommersant" in the Ministry of Finance reported that, according to him, all those arrested are suspected of attempted theft of budget funds in the transaction related to the external debt of Algeria, the Soviet Union (in 2006, Russia wrote off Algeria`s debt in the amount of 4.7 billion dollars in exchange for promises of weapons procurement, including in the structures headed by Sergei Chemezov, "Rosoboronexport" company). However, some media did not rule out political motive of the criminal case.

November 19, 2007 press secretary Markin, the Investigative Committee said that Storchak, Volkov and Zakharov are suspected in the creation of an organized group in order to steal money from the federal budget under the pretext of covering the costs incurred by the company "Sodeksim". According to him, it was a attempt to steal 43 million 400 thousand dollars.

The next day, officials from the Ministry of Finance acknowledged the existence of the state debt to the company "Sodeksim" and reaffirmed their intention to return to the company 43.4 million dollars from the state budget. According to them, "Sodeksim" was created to ensure the repayment of Algeria`s debt to the Soviet Union. Algeria offered to pay off with Russia not only money, but also deliveries of goods, and sell the goods received, listing proceeds to the budget, should the company Zakharov. At the same time, the ministry explained, at the time the company first had to first transfer the money to the budget, and only after receiving the goods and sell them. In 1996, "Sodeksim" transferred to the account of Ministry of Finance with Vnesheconombank sum in rubles, equivalent to 26 million US dollars, but from Algeria products for this amount has not been set. After between Russia and Algeria signed and ratified an intergovernmental agreement, according to which all financial claims of legal persons related to trade between the countries in the previous period, will be settled by the two governments on their own, formed a Russian debt to the company "Sodeksim". Taking into account accumulated over eleven percent by 2007 it rose to 43,400,000 dollars.

Volkov married (in the press mentioned his wife, told the media that she was not allowed to pass drugs arrested her husband).