: :inin Kyiv (EET)

Major bank fraud scheme participant arrested in Kyiv

Kyiv law enforcers have detained a head of one of the departments of Standard Bank, complicit in an illegal withdrawal of UAH 900 million from depositors` accounts, according to the press service of the SBU Security Service of Ukraine.

”The SBU along with the fiscal service revealed that the official in 2013-2015 withdrew more than UAH 900 million of bank`s depositors upon instructions of at top management and the bank`s owner. The transaction was carried out through lending to fictitious commercial structures under their control,” reads the statement.

Former chief of the bank`s department is now suspected of committing a crime under Part 2 Article 27 and Part 5 Article 191 of the Criminal Procedural Code of Ukraine. The court ruled to arrest the suspect as a preventive measure.

Further investigation is underway to reveal other individuals involved in the conspiracy.

The SBU also informed that the bank is now being liquidated, therefore it is the Individual Deposits Guarantee Fund that is to compensate for financial losses of depositors as a result of criminal activity.


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