NABU and SAPO referred Kolomoiskyi’s case on the embezzlement of UAH 9.2 billion from PrivatBank to court

NABU and SAPO referred Kolomoiskyi’s case on the embezzlement of UAH 9.2 billion from PrivatBank to court

Former ultimate beneficial owner of PJSC CB «PrivatBank» Igor Kolomoisky and five members of the organized group he created will appear before the court. NABU and SAPO accuse them of misappropriating the bank’s funds in the amount of over UAH 9.2 billion.

This is reported by NABU.

In January–March 2015, the ultimate beneficiary of «PrivatBank», then head of the Dnipropetrovsk Regional State Administration, organized a scheme to misappropriate the bank’s funds in order to further finance a controlled offshore company and increase his own stake in the institution’s authorized capital. To this end, the bank was artificially obliged to pay the said controlled company over UAH 9.2 billion under the pretext of a supposed buyback of its own bonds at an inflated price.

Subsequently, part of the amount exceeding UAH 446 million was transferred, for the purpose of legalization, to the accounts of three related legal entities under the guise of securities purchase and sale transactions, and later to the accounts of two more. Eventually, the funds were credited to the personal account of the ultimate beneficiary of PrivatBank. He disposed of them at his own discretion — contributing them to the bank’s authorized capital to comply with the requirements of the National Bank of Ukraine.