The National Anti-Corruption Bureau of Ukraine (NABU) notified eight people of suspicion with illegal acquisition of USD 480,000. This money was supposed to be used as stabilization loan for VAB Bank, which requested it from the National Bank of Ukraine (NBU). The NABU reported that on November 12.
The suspects in the crime are the ex-first deputy head of NBU, ex-director of General Department for Bank Supervision, ex-acting head of NBU Management in Kyiv and Kyiv region, former head of Supervisory Board of VAB Bank, former deputy head of Board of this bank and another three officials of private companies tied to the beneficiary owners of VAB Bank.
The investigation found out that in October 2014, VAB Bank, which was considered a troubled bank, asked the NBU to provide a loan. It failed to provide all the necessary documents and thus breached the law; however, the National Bank agreed to provide the loan, which was another violation of the law. At that, the price of the real estate property that the VAB passed the NBU as a pledge was increased by almost 25 times, as all the evaluation reports were faked. Prior to that, in 2014, VAB Bank received another loan from the NB and never returned it.
NABU, the investigation, and anti-corruption authority, considers the mentioned individuals involved in the acts of power abuse.