The former chairman of the board of the "Arkada" bank and the director of the construction company have been suspected of embezzling 110 million hryvnias of the bank's depositors. This money was intended for the construction of residential buildings. This was reported by the Kyiv prosecutor's office, as stated by UNN.
Details
From 2014 to 2018, the "Arkada" bank was the manager of a housing construction financing fund, whose investors included individuals and legal entities. Their funds were supposed to be used for the construction of multi-storey residential buildings.
The functions of the developer were performed by a private company affiliated with the bank, which took on the obligation to ensure its timely financing.
It has been established that the director of the construction company, in collusion with the chairman of the bank, embezzled investors' funds by purchasing a stake in the charter capital of one of the Kyiv enterprises, which is a tenant of a land plot in the Darnytsia district.
The purpose of the deal was allegedly to obtain the right to lease a land plot that borders the one on which housing for investors was being constructed. However, the lease term for the plot, for which this deal was supposedly made, was set to expire in the same 2018 year.
Thus, 110 million hryvnias were spent. At the time of the money transfer, bankruptcy proceedings had already been opened against the enterprise whose stake was being purchased. The initiator of the bankruptcy was another private company, whose director at that time was the chairman of "Arkada."
Expert examinations have established that the market value of the "purchased" corporate rights of the enterprise amounts to 1 hryvnia.
The individuals involved have been notified of suspicion of embezzling funds from the banking management funds through abuse of office, in conspiracy by a group of individuals, in particularly large amounts (Part 5 of Article 191 of the Criminal Code).
Reminder
This is not the first scandal surrounding the bank. In 2020, the president of "Arkada" was notified of suspicion of misappropriating funds from the housing construction financing funds. It was established that in June 2018, the suspect, while serving as chairman of the board, along with his accomplices, developed and implemented a scheme to misappropriate funds from the financing funds for the construction of the "Eureka" and "Patriotika" residential complexes, which were managed by the bank.