Following the SSU and ESBU’s investigation, a notice of suspicion has been served to a former head of Kyiv branch of Privatbank.

The official was a member of an organized group created by Ihor Kolomoiskyi to illegally seize UAH 5.8 bln.

According to the investigation, in the period from 2013 to 2014, Kolomoiskyi created a criminal group consisting of employees of the bank in which he was a founder and shareholder.

During this period, members of this group allowed Kolomoiskyi to make regular fictitious ‘cash deposits to the bank’, although in fact the bank did not receive any deposits.

According to the investigation, this scheme allowed the suspect to receive a total of UAH 5.8 bln, which was equivalent to over USD 700 mln at the time.

These fake ‘contributions’ were then credited to Kolomoiskyi’s personal account and became real non-cash funds.

To legalize the virtual assets, the businessman used them in his entrepreneurial activities. He lent them as loans and paid them for loans to companies under his control, withdrew them abroad, cashed them in or withdrew them at the bank’s branches.

Following the SSU and ESBU’s investigation, the former head of Privatbank’s Kyiv branch was served a notice of suspicion under the following Articles of the CCU:

• 27.2, 28.3, 200.2 (unlawful actions with transfer documents, payment cards and other means of access to bank accounts, electronic money, equipment for their production);
• 27.2, 191.5 (misappropriation of property by an official through abuse of office committed by an organized group on a particularly large scale);
• 27.2, 209.3 (money laundering).

The court chose custody as a measure of restraint for the suspect. The pre-trial investigation is ongoing.

Procedural supervision is provided by the Prosecutor General’s Office.

According to Article 62 of the Constitution of Ukraine, a person is presumed innocent of a crime and cannot be subject to criminal punishment until their guilt is proven in line with the procedure defined by law and established by a relevant court’s verdict.