The Prosecutor General’s Office together with the Central Bank of the Russian Federation has identified a new form of fraud tied to unpaid salaries that emerges during corporate bankruptcies. A Russian newspaper reported this finding, citing a source inside the supervisory authority. The report reveals how some managers sought to take advantage of liquidation processes by creating fake wage arrears and presenting counterfeit labor dispute certificates to withdraw funds owed to employees. These schemes are not isolated incidents; they indicate a coordinated effort to simulate financial obligations and then exhaust them before creditors can act.
According to the Prosecutor General’s Office, several schemes have been detected since August 2022. In total, 280 companies underwent audits, involving more than 840 individuals and totaling roughly 3.9 billion rubles. The scale of these investigations underscores the persistence of fraudulent practices that complicate bankruptcy proceedings and threaten the fair distribution of assets to honest creditors and workers. The authorities stress that the aim is to safeguard the integrity of bankruptcy processes and protect employees from exploitation in weak market conditions.
Following the audit results, 34 criminal cases have been opened and a court has been asked to invalidate 27 documents connected with the fraud. The volume of fraudulent transactions appears to have decreased by about one fifth in the most recent reviews, yet officials emphasize that detection efforts continue and that vigilance remains essential. The supervisory authority notes that ongoing work aims to dismantle illicit schemes and prevent new variations from taking root in bankruptcy workflows.
Audits have been launched against more than 100 companies as part of a broader review that includes verifying the accuracy of data in the Unified State Register of Legal Entities and subsequently flagging information deemed unreliable. The process shows how cross-checks across multiple registries provide a stronger defense against fake filings and manipulated records, and how authorities are coordinating between prosecutorial, banking, and regulatory bodies to close gaps exploited by fraudsters.
Amid the wave of fraud cases, the Central Bank indicated that a mid-September assessment confirmed continuing efforts to identify and disrupt fraudulent channels within financial and corporate sectors. The bank highlighted that enforcement actions, enhanced due diligence, and tighter monitoring of bankruptcies are central to reducing vulnerability to such fraud. This development is part of a broader international push to tighten controls around corporate insolvency and wage-related artifices that can undermine workers and legitimate creditors alike.
Historically, similar schemes have appeared in other jurisdictions, with notable cases of misappropriation during asset realizations and cross-border schemes that exploit regulatory gaps. Analysts note that the lessons from these incidents stress the importance of robust record-keeping, transparent disclosure, and swift judicial action to deter future attempts. The overarching message from authorities is clear: as bankruptcy practice evolves, so too must the safeguards that protect workers and ensure fair, lawful distribution of company assets. This ongoing effort continues to adapt to new techniques used by fraudsters and to strengthen oversight across both public and private sectors. The report draws on contemporary disclosures reported by a Russian newspaper.
In parallel, unrelated reports mention that the Hong Kong Police previously requested Interpol’s help in recovering substantial sums stolen in high-profile cases, illustrating the global reach of financial crime and the importance of international cooperation in asset recovery and enforcement.