BAM-Credit (Russian: банк «БАМ-кредит»), which had Balkar Trading accounts, was the dominant financier of gold mining in the Irkutsk and Magadan regions.

On 1 November 1996, the Geneva Prosecutor indictments upheld the frozen Swiss accounts and Ilyushenko was detained in a pre trial jail for the next two years.

However, on 11 May 2001, these charges on Alexey Ilyushenko and his friend Pyotr Yanchev (Russian: Петр Янчев), who was the head of Balkar Trading, were dropped by Vladimir Ustinov.

Felipe Turover Chudínov, a senior intelligence officer with the foreign-intelligence directorate of the KGB, alleged that $15 billion of IMF funds had been funneled through Switzerland, Lichtenstein and Caribbean countries as black cash or obschak to support Kremlin friendly operations and companies.

[32][33] Skuratov's dismissal occurred just days before a second search of the owner of Mabetex the Albanian businessman Behgjet Pacolli linked interests during an ongoing money laundering investigation which had begun in 1992 in Bern involving Pacolli and Yakutiya (Russian: Якутия) officials involved in gold and diamonds especially the Mayor of Yakutsk Pavel Pavlovich Borodin who was Putin's architect for the transfer of the Presidential Property Management Department assets to LLCs, JSCs, and Joint Ventures during early 1997.