KGB Detains Priorbank Chairman Of Board

In the banking circles, they stress the political nature of the case.

As it became known to Nasha Niva, earlier this week, special services detained Siarhei Kastsyuchenka, the head of Priorbank with Austrian capital.

“They invited me to the KGB, but they didn’t let me go back,” sources quote the man as saying.

It is known that the formal reason for the arrest was the alleged tax problems in an IT company, where Kastsyuchenka is a co-owner.

However, in the banking circles, they stress the political nature of the case. The alleged real reason for the detention is Kastsyuchenka’s too independent position in the current economic circumstances, and unwillingness to sacrifice the bank's resources at the behest of cabinet commanders.

Kastsyuchenka is an extremely authoritative person in the Belarusian banking and business environment. With the help of his ability to see the right directions for investment, many successful businesses have grown in the country.

Half of the shares of Priorbank belongs to the Austrian Raiffeisen.

Kastsyuchenka has been Chairman of the Board of Priorbank since 1990.