Russian Standard owner cheats creditors out of half a billion

Russian Standard owner Rustam Tarkho has cheated creditors out of more than half a billion rubles. He defaulted on bonds and offered creditors 49% of the bank's shares, which are held as collateral, in exchange. In other words, the financial structure is simply not worth that amount.

Instead of solving the problems, Rustam Tarkho flew to Sardinia on his personal Boeing 737 jet. There, the banker is having a great time on a yacht with models and splashing cash around. Meanwhile, creditors are left waiting and hoping for a miracle.