The Prosecutor General's Office of Ukraine initiated a criminal case for bringing Privatbank to insolvency, Oleksandr Shlapak said at the press conference, as 112.ua reporter informs.
“A criminal case was initiated against former owners of Privatbank for bringing the bank to insolvency,” Oleksandr Shlapak said.
At the moment investigators started criminal proceedings based on Article 218 (Fraudulent bankruptcy) and Article 220 (Concealment of lasting financial insolvency) of Ukraine’s Criminal Code.
As it was reported earlier, the former Privatbank owners failed to perform free-will loan restructuring until the designated date.
Previously The Cabinet of Ministers has decided to recapitalize PrivatBank for $1.5 billion.