NABU and SAP referred the case of “Privatbank” to the court

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NABU and SAP referred the case of

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The National Anti-Corruption Bureau and the Specialized Anti-Corruption Bureau completed the investigation into the embezzlement of 8.4 billion hryvnias by the ex-top manager of “PrivatBank”. This is reported by the NABU press service.

According to the investigation, in December 2016, on the eve of the nationalization of PrivatBank PJSC, the ex-chairman of the bank's board ordered the transfer of funds from a correspondent account opened in one of the European banks as repayment of the debt due to the previously issued letter of credit to two agro-trading companies.

Law enforcement officials state that as a result of the operation, the bank caused losses in the amount of about 315 million dollars (8.2 billion UAH at the rate of the NBU).

To cover up the actual embezzlement of “PrivatBank” funds and giving the appearance of legality to this criminal scheme, former high-ranking officials of the bank forged bank documents and conducted fictitious lending to a legal entity associated with the bank. In this way, this person was made a debtor for exactly the amount withdrawn due to repayment of letters of credit to other companies.

In addition, the ex-chairman of the bank's board, his first deputy and two heads of departments in December 2016, the day before the recognition of " PrivatBank” about 223 million hryvnias were paid at the bank's expense to the insolvent on the basis of false documents in favor of companies related to the bank. The funds were transferred in several tranches to two different companies. UAH 85.2 million – to the account of one company's scheme connected with the participants, and UAH 136.8 million – for the benefit of another.

The participants of the scheme later took these funds abroad for the purpose of legalization.

Among the accused: ex-chairman of the board of PJSC KB "PrivatBank" Oleksandr Dubilet, his first deputy, deputy, former head of the financial management department, former head of the interbank operations support department and head of the bank's operational direction department.

Prepared by: Serhiy Daga