PrivatBank lawsuit may cause significant losses to the state

Source : 112 Ukraine

It might happen because bank's largest shareholders did not fulfil their obligations
11:32, 21 August 2017

Open source

Criminal lawsuit involving the possible embezzlement of PrivatBank funds poses the risk of causing significant losses to Ukraine because two of the bank's largest shareholders, Ihor Kolomoisky and Hennadiy Boholiubov, failed to fulfill their obligations, National Anti-Corruption Bureau of Ukraine (NABU), said its chief Artem Sytnyk on August 21. This was reported by Interfax-Ukraine.

"The PrivatBank case has been taken under special control because the possibility of large scale losses to the state exists there. Shareholders of the bank have still not fulfilled their obligations – not paid off the bank's loan portfolio. Kolomoisky and Boholiubov had promised to do this in writing by July 1. They did not," Sytnyk said in his interview for Radio Free Liberty/Radio Europe.

Related: PrivatBank was a typical financial pyramid before nationalization

Earlier it was reported about schemes of withdrawing money from PrivatBank before its nationalization. Before nationalization, PrivatBank issued loans to inactive companies with some signs of default.

Related: Talks with Privatbank ex-owners continue

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