Few chances for Investprivatbank's depositors to recuperate all their money

There are few chances that Investprivatbank's depositors will recuperate all their money, after Friday, June 19, the National Bank of Moldova (BNM) withdrew the bank's license. The BNM has appointed a liquidator of the bank – Ion Ropot – who has told a news conference in Investprivatbank's headquarters that he will consider and choose the best way to liquidate the bank, Info-Prim Neo reports. Tens of depositors came to the premises by 2 p.m. -- the time the news conference was announced for. The bank's guards allowed in only the journalists and that led to altercations between guardians and some depositors asking why they were not granted access inside. “Our money is there”, “Do they want another revolt as the one on April 7!” they were saying. Ema Tabarta, the BNM's vice-governor responsible with banking supervision and regulation, has said they will do their best to return the money to the natural entities having deposited money in Investprivatbank, but she could not guarantee the amounts will be returned fully. The liquidator has ordered an inventory of the company's assets and debts, then they will start returning parts of deposits. The central bank explains the bankruptcy by the fact that Investprivatbank's administration presented erroneous reports about its liquidities. Asked by Info-Prim Neo, vice governor Ema Tabarta has not ruled out that Ivan Kirpalov, the former president of Investprivatbank, can be penally searched for delivering erroneous data, but she says its the prosecutors' competence. BNM clerks consider that Investprivatbank did not act prudently: it offered many long-term loans, especially in mortgage and construction projects, but it took short-term deposits, from 3 to 6 months. 40% of Investprivatbank's stocks belong to a company from Cyprus, a country known in the business community as an off-shore area.