"Are 'Delo i Dengi' being liquidated? Experts reminded why it will be almost impossible to get the money back."

      On the evening of August 8, a short message appeared in the official group of the credit cooperative "Deed and Money" on "VKontakte": "All our offices have ceased operations. Our services will no longer be provided. We apologize." This was preceded by days of panic, queues at the offices, and contradictory statements from the management. On the morning of August 8, shareholders were assured that the organization was operating as usual, and the information about liquidation concerned "another legal entity with a similar name."

      Experts familiar with the mechanisms of credit cooperatives note that the situation is developing according to a classic scenario that has led to the collapse of similar organizations in the Kirov region more than once.

      "Everything collapses according to one scenario."

      The editorial office obtained a comment from an expert in the field of economics. He explained that the problems of credit consumer cooperatives arise systematically and develop according to the same scheme.

      "The problem with the current realities of all credit consumer cooperatives is that they all collapse according to the same scenario," the specialist notes.

      He recalls the collapse of the large cooperative "Invest Center" in Kirov several years ago: "Very roughly and unsightly. One of the co-owners withdrew most of the assets abroad. At the same time, the management was already aware that they were engaging in illegal activities. Advertising and marketing worked on the premise that we have the best interest rates — come, bring your money."

      According to him, people were literally taking money from citizens just hours before the official closure, when employees arrived in the morning and sealed the offices. "This money was then taken away in suitcases," says the expert.

      Why the liquidated cooperative won't be able to return the money?

      The key problem of cooperatives, according to the expert, is that unlike banks, they have virtually no "liquid" assets.

      "Banks are not liquidated like that. The procedure is much more complicated, withdrawing money is more difficult than with cooperatives, as cooperatives are a less regulated form. When a bank is liquidated, it can be absorbed by another. For example, when the Bank of Moscow was liquidated, a large part of the assets and liabilities transferred to VTB. Some funds were returned through insurance," explains the economist.

      "Cooperatives usually have virtually no assets. When liquidated, there is nothing to take from them. A person is forced to turn to law enforcement agencies," the specialist states.

      Court decision is not a guarantee of money

      The expert warns shareholders that even obtaining a court decision will not help recover investments.

      "You receive a court decision stating to recover funds from the cooperative with all interest, penalties, and fines. The question is different: there is no money, there is nothing to recover. You have a court decision, but de facto it is worth nothing," he explains.

      The further scenario, according to him, is also predictable: a criminal case is initiated under Article 159 of the Criminal Code of the Russian Federation (fraud), but the investigation may take years due to the huge number of victims — "thousands, possibly tens of thousands," and the damage is measured in billions.

      Even if the guilty are held accountable and large fines are imposed, there won't be enough money for everyone.

      "You lost your million, which you later sued for, and you have a debtor. But besides you as the creditor, there are several dozen, possibly thousands of other people with a total debt amounting to several billion rubles. Insurance may partially compensate you, but only partially," the expert concludes.

      Recall that on August 8, the cooperative "Deed and Money" announced the cessation of operations of all offices. Shareholders are advised to contact law enforcement agencies.