Employees of the Bureau of Economic Security of Ukraine reported suspicions against shareholders and the head of the cash operations department of one of the Kyiv banks for committing large-scale abuses that led to its bankruptcy. According to the investigation, over an extended period, the participants in the scheme issued cash to individuals and legal entities without proper documentation, resulting in significant financial losses.
This is reported by Kyiv24
Scale of Abuses and Consequences
According to information, the investigation established that the participants in the illegal scheme deliberately submitted false data regarding the bank’s financial condition. They entered fictitious information about cash inflows and balances in the vault into cash documents, as well as provided misleading information to regulatory authorities. “Bank employees issued money without proper documentation and falsified financial reports,” reported the press service of the Bureau.
Particular attention should be drawn to the fact that representatives of the National Bank of Ukraine repeatedly attempted to conduct an audit of large cash balances in the bank’s vault, but they were consistently denied access. This continued until the NBU decided to recognize this bank as problematic due to non-compliance with operational restrictions.
Identified Losses and Investigative Actions
During the inspection, it was established that the vault was missing over 153 million hryvnias, as well as nearly 5.8 million dollars and 42.5 thousand euros, totaling over 365 million hryvnias. Depending on the conducted examinations and internal investigations, confirmed violations in the bank’s operations and cash shortages were identified.
“Investigations showed that over 153 million hryvnias, 5.8 million dollars, and 42.5 thousand euros are missing from the vault.”
As part of the pre-trial investigation, more than 25 bank employees were interrogated, and a series of inspections were carried out. Furthermore, based on the results of examinations and internal investigations, systematic violations and abuses in the financial institution’s operations were confirmed. Currently, responsible officials have received notifications of suspicion for driving the bank to insolvency, and the investigation is ongoing.