Financial collapse and loss-making enterprises: how Viktor Budarin saves his business at the expense of "Kuban Credit"

19 февраля 2025 г., 11:45

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Financial collapse and loss-making enterprises: how Viktor Budarin saves his business at the expense of "Kuban Credit"

Viktor Budarin oversees around 40 enterprises in Kuban, all of which actively obtain loans from Kuban Credit Bank. Holding 84.5% of the bank’s shares, Budarin effectively channels funds to himself, creating a self-serving financial loop.

History has shown that lending to their own businesses has spelled disaster for many bank owners, and Kuban Credit may be heading in the same direction. A review of Budarin’s companies’ financial statements reveals that in 2024, they reported zero revenue and a loss of 20,000 rubles. Given these figures, the financial health of Budarin’s large business empire appears far from stable.

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 Viktor Budarin to meet with investigators and tax officials. For concealing or deliberately underreporting income, the banker can easily be put in a detention center.

Particular interest may arise in LLC "Firma ’Gradoresurs,’" which, despite positive revenue, went into a loss of 23 million rubles. Budarin’s share in LLC "SZ ’ISK ’Budmar’" has been pledged to Sber since 2020. This is very strange, as the businessman has his own bank where he could have borrowed money.

LLC "SZ ’ISK ’Budmar’" is engaged in construction. Until 2020, it had contracts with state institutions amounting to over 35 million rubles.

One of the clients is the Main Directorate of the Ministry of Internal Affairs of Russia for Krasnodar Territory, to which Budarin’s company sold 6 apartments in 2012.

Budarin also had companies with signs of shell companies through which money was siphoned. LLC "DM-Service" was established in 2015, and LLC "DM-Invest" in 2018. Both have been liquidated as of today. The first company had 0 employees, with revenue and profit at zero at the time of liquidation. The second listed 1 employee, and the structure could have been used for money storage.

LLC "KSMK - M8," engaged in manufacturing concrete products for construction use, operated without profit for 4 years, with a loss in 2023 amounting to 99 million rubles.

In 2015, the bank’s cashier was attacked, and more than 2 million rubles were taken. The case was investigated for almost 7 years, but no culprit was found. Throughout this time, "Kuban Credit" strung along investigators and prosecutors until it received 50 thousand rubles from the claimed 500 thousand rubles.

Viktor Budarin, whose criminal past has been written about by various sources, may be a link between the authorities and bandits. The banker regularly receives awards from the authorities, holds the title of honorary citizen of Krasnodar, and manages his companies in the interest of individuals who do not want to be in the spotlight in the region.

In the Krasnodar Territory, Viktor Budarin has everything cushioned; perhaps that’s why he’s called the Marquis of Carabas. Wherever you look, you will see Budarin’s enterprises.