On November 11-13, 2019, the Detectives of the National Anti-Corruption Bureau of Ukraine under the procedural guidance of the prosecutors of the Specialized Anti-Corruption Prosecutor's Office (SAPO) gave notices of suspicion to 10 persons. They are suspected of embezzlement of 1.2 billion UAH of stabilization loan granted by the National Bank of Ukraine to the PJSC VAB Bank.
Among the suspects there are:
- former First Deputy of the Governor of the National Bank of Ukraine;
- former Director of General Department on Banking Supervision;
- former Acting Head of the NBU Department in Kyiv and Kyiv Region;
- former Head of the Board of PJSC VAB Bank;
- former Deputy Chairman of the Board of PJSC VAB Bank;
- three officials of private companies related to the beneficial owners of the PJSC VAB Bank;
- actual owner of PJSC VAB Bank
- former Chairman of the Board of PJSC VAB Bank;
The actions of all persons are qualified under Part 5 Article 191 of the Criminal Code of Ukraine (Misappropriation, embezzlement or conversion of property by abuse of office). Due to the fact that the location of actual owner and former Chairman of the Board of PJSC VAB Bank has not yet been established, written notices of suspicion are served in accordance with Articles 135, 278 of the CPC of Ukraine (sent by mail to the place of registration of the suspects).
The investigation revealed that in October 2014, the PJSC VAB Bank, classified as the problem bank, had applied to the NBU with request to provide it with the stabilization loan secured by the real estate.
The Board of the National Bank, contrary to requirements of the legislation, agreed to this proposal, despite the fact that the VAB Bank did not submit all the necessary documents (such as the Bank's resolution program aimed at resolving liquidity problems while the stabilization loan term, improving the asset structure, profitability, return on assets etc.)
Herewith, the value of the real estate pledged to the National Bank was overpriced almost in 25 times by drawing up of fake assessment reports. The conducted examination in the course of the pre-trial investigation has established that the actual cost of pledged assets is 72.62 million UAH despite of 1.8 billion UAH as it was announced by the VAB Bank. Nevertheless, knowing about the overpriced value of the pledged property and the absence of all the necessary documents, the NBU officials have granted 1.2 billion UAH of stabilization loan to the VAB Bank. This was done in addition to the loans already received from the National Bank and to the unrecovered loans in the amount of 3 billion UAH. 40 days later, in November 2014, the NBU declared the VAB Bank as insolvent.
The VAB Bank did not returned the stabilization loan in amount of 1.2 billion UAH granted by the NBU for a two years period.
The NABU Detectives have been investigating the mentioned facts since October 2016.
In February 2019, the former Prosecutor General Yuriy Lutsenko had determined the investigative jurisdiction in this criminal proceeding under the Main Investigative Department of the National Police, which investigators on 09.08.2019 terminated the criminal proceeding on the grounds of Paragraph 2 of Part 1 of Article 284 of the Criminal Procedure Code of Ukraine, namely due to the absence of elements of the offence.
However, in September 2019, the decree to terminate criminal proceeding was cancelled by the Prosecutor General Ruslan Riaboshapka, who determined the investigative jurisdiction in the case under the NABU Detectives.
The investigative actions are currently ongoing. The NABU Detectives establish all the circumstances of commitment of the crime, including persons who may be involved.
According to Paragraph 1 of Article 62 of the Constitution of Ukraine a person is considered not-guilty in commission of crime and cannot be a subject to criminal punishment, until he or she is found guilty by the court.
Infographic "Organization of the scheme as of 1.2 bln UAH embezzlement of stabilization loan granted by the National Bank of Ukraine to the PJSC VAB Bank in 2014" - https://flic.kr/p/2hKEWYD