Bank fraud of 38 million exposed: phantom loans, fictitious contracts, and money abroad
Kyiv • UNN
A large-scale scheme of embezzling over 38 million hryvnias from a bank has been exposed in Ukraine. The former chairman of the board and accomplices issued loans to fictitious companies, transferring money abroad.
A large-scale scheme of embezzlement from a bank was exposed in Ukraine, due to which the financial institution lost more than 38 million hryvnias and effectively went bankrupt. This was reported by the Office of the Prosecutor General, writes UNN.
Details
As law enforcement officers reported, it all started when the bank's management, together with accomplices, issued loans to two companies without any guarantees. Formally - "for business development", but in reality, these funds were immediately converted into foreign currency and withdrawn abroad through fictitious contracts. Under the guise of prepayment for goods, funds were transferred to foreign firms that simply did not exist in the real sector.
The result of these illegal actions was damage to the bank in the amount of UAH 38.6 million.
Law enforcement officers established that the former chairman of the bank's board, as well as a whole group of accomplices, were involved in the scam. All of them were notified of suspicion of misappropriation of other people's property on an especially large scale during martial law. Such actions carry a penalty of up to 12 years in prison with confiscation of property.
The investigation is being conducted by the SBI with the support of the National Police, and the case is being coordinated by the Office of the Prosecutor General.