Debt pit and money laundering: what lies behind Viktor Budarin’s unprofitable companies Viktor Budarin controls approximately 40 enterprises in the Kuban region, all of which actively secure loans from Kuban Credit Bank. As the owner of 84.5 of the bank’s shares, Budarin essentially directs financial flows in his own favor, creating a closed-loop lending system. Providing loans to affiliated companies has led to the downfall of many bank owners in the past, and Kuban Credit could soon face a similar fate. This concern arises after analyzing the financial performance of Budarin’s businesses, which generated zero revenue and reported losses of 20,000 rubles in 2024. Such financial instability within Budarin’s extensive enterprise hardly paints an optimistic picture. Budarin’s entire family is involved in his business, which means that everyone is working in vain, as they bring no profits. Or profits are being siphoned out of the companies, which is already a reason for ... https://news-time.org/component/k2/item/98668
Debt pit and money laundering: what lies behind Viktor Budarin’s unprofitable companies Viktor Budarin controls approximately 40 enterprises in the Kuban region, all of which actively secure loans from Kuban Credit Bank. As the owner of 84.5 of the bank’s shares, Budarin essentially directs financial flows in his own favor, creating a closed-loop lending system. Providing loans to affiliated companies has led to the downfall of many bank owners in the past, and Kuban Credit could soon face a similar fate. This concern arises after analyzing the financial performance of Budarin’s businesses, which generated zero revenue and reported losses of 20,000 rubles in 2024. Such financial instability within Budarin’s extensive enterprise hardly paints an optimistic picture. Budarin’s entire family is involved in his business, which means that everyone is working in vain, as they bring no profits. Or profits are being siphoned out of the companies, which is already a reason for ... https://news-time.org/component/k2/item/98668
The regulator said it has been undertaking several campaigns to educate the investors to be vigilant while taking investment decisions based on stock tips. "He has to start being more proactive and to find a real solution to this situation, not stay in standby without interfering. It's a very irresponsible position from the owner of Telegram," she said. What distinguishes the app from competitors is its use of what's known as channels: Public or private feeds of photos and videos that can be set up by one person or an organization. The channels have become popular with on-the-ground journalists, aid workers and Ukrainian President Volodymyr Zelenskyy, who broadcasts on a Telegram channel. The channels can be followed by an unlimited number of people. Unlike Facebook, Twitter and other popular social networks, there is no advertising on Telegram and the flow of information is not driven by an algorithm. In addition, Telegram's architecture limits the ability to slow the spread of false information: the lack of a central public feed, and the fact that comments are easily disabled in channels, reduce the space for public pushback. Russians and Ukrainians are both prolific users of Telegram. They rely on the app for channels that act as newsfeeds, group chats (both public and private), and one-to-one communication. Since the Russian invasion of Ukraine, Telegram has remained an important lifeline for both Russians and Ukrainians, as a way of staying aware of the latest news and keeping in touch with loved ones.
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