The central bank of Russia (The Bank of Russia) has revoked the licence of Admiralteisky Bank
The Bank of Russia statement said Admiralteisky was closed down:
- Because it did not have enough reserves
- It had processed large suspicious payments
- It did not observe anti-money laundering rules
- And had "practically stopped serving its clients"
That's from the Moscow Times ... which goes on (bolding mine):
When officials from the Central Bank searched the vaults of the lender they even found metal bars painted gold, industry website Banki.ru reported Friday, citing unidentified sources.
Uh-oh ...
Lesson: Keep your gold bars under the bed, people!
