Former executives of Finance and Credit Bank will be tried for financial fraud worth hundreds of millions of hryvnias: SBI
Employees of the State Bureau of Investigation (SBI), under the procedural guidance of the Prosecutor General’s Office, completed the investigation investigation criminal case against the former managers of the bank “Finance and Credit”. They are accused of embezzling the bank’s property through a criminal organization, which resulted in losses of over 608 million hryvnias.
The investigation established that one of the bank’s shareholders, in the period from 2007 to 2015, organized an illegal scheme of lending to companies he controlled. The goal was to withdraw funds from the bank to offshore accounts for their further legalization. High-ranking bank officials who acted under his leadership were involved in this scheme.
In particular, in one of the episodes, the bank lost more than 608 million hryvnias due to lending to a company controlled by a shareholder. In order to give their actions a legal appearance, the members of the criminal organization concluded more than a hundred additional agreements to the main credit agreement over the course of five years, unjustifiably increasing the credit limit for the borrower. At the same time, the bank did not receive any liquid collateral.
Former top bank officials were charged under Art. 255 of the Criminal Code of Ukraine (participation in a criminal organization) and Art. 191 of the Criminal Code of Ukraine (waste of someone else’s property in particularly large amounts using official position). They face up to 12 years of imprisonment with the possibility of confiscation of property and a ban on holding certain positions for up to three years.
The defendants’ defense attorneys have already begun reviewing the case file, after which it will be submitted to the court for consideration.
