CONSUMER COOPERATION WITH ASSETS OF 61 TRILLION WILL BE BANKRUPTED

Sverdlovsk Arbitration has received a bankruptcy claim of the international consumer society (MPO) "Vogulsky shareholder". The initiator was an individual who demanded to pay the debt of 5 million rubles. A few years ago, the MPO received wide publicity in the media after it announced the disposal of assets worth 61 trillion (in 2020, this amount was 57.2% of the GDP of the Russian Federation).

The legal entity was established in the Ural capital in 2004. On its website on the Internet, the Vogul Shareholder reported on close cooperation with the Government, the Ministry of Internal Affairs, state and international structures. According to the MPO, the organization consists of more than 480 thousand shareholders and 9.6 thousand organizations.

In advertising materials, the company offered citizens and firms to invest their funds in mutual capital. For individuals, a yield of 7.5% to 16% per year was offered. Legal entities, according to some data, could receive income up to 20% per annum with monthly payment of dividends.

It turned out that the organization is not supervised by the Central Bank. MPO rates also turned out to be quite comparable with the percentages set by pawnshops and MFOs. Therefore, the regulator did not initiate a check of the "Vogul shareholder". The organization also showed no signs of aggressive marketing.

In 2021, the All-Russian Popular Front (ONF) became interested in the activities of the MPO. According to experts interviewed by representatives of the ONF, the organization resembled a pyramid scheme. However, there were no complaints about the consumer society from its participants. The violation of the financial statements of the legal entity was also not noticed. What was the reason for the current attempt to attract the Ural "trillionaire" to bankruptcy arbitration is not yet known.

Photo: Freepik