Prosecutor General’s Office conducts searches in PrivatBank case, about 300 real properties arrested

Source : 112 Ukraine

Searches are conducted at the place of residence of former PrivatBank officials, linked to the bank and who were allegedly given multimillion credits
18:45, 24 May 2017

Open source

Prosecutor General’s Office of Ukraine conducts searches at the addresses of former PrivatBank officials. This was reported by the prosecution’s press service.

It is informed that searches are conducted at the place of residence of former PrivatBank officials linked to the bank and who were allegedly given multimillion credits. The searches are carried out in accordance with the court order at the residential places of PrivatBank ex-officials, as well as at the addresses of legal entities, connected with the bank, which were provided multibillion credits at the expense of National Bank’s refinancing.

"It was established during the searches that in most cases the legal entities themselves cannot be found at their mentioned addresses, as well as any signs of business activity," the message of the Prosecutor General’s Office reads.

Prosecutor General's Office Facebook

Prosecutor General's Office Facebook

Pre-trial investigation in the specified criminal proceeding is continued and is controlled by the leadership of Ukraine’s Prosecutor General’s Office.

The main investigative department of Ukraine’s Prosecutor General Office conducts pre-trial investigation in the criminal proceeding on the embezzlement by PrivatBank officials on a particularly large scale. Prosecution claims that materials of the proceeding show that former bank’s leadership provided credits to  related parties amounting to $10 billion from 2008 to 2016 after obtaining refinance funds, despite the legal prohibition to do so. 

According to Prosecutor General’s Office, as a result of above-mentioned actions by the former PrivatBank officials, who gave credits violating the requirements of the current legislation, through abusing the office, and on disadvantageous terms, the state had to nationalize and recapitalize the bank for

Related: PrivatBank to appeal cout decision on partially illegal nationalization

Related: National Bank to spend $1.1 billion more on capital increase of PrivatBank, — Gontareva

Related: Hontareva: Fraud transactions for $600 million in PrivatBank

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