Criminal investigation is under way by the Prosecutor General`s Office of Ukraine into the embezzlement by officials and shareholders of PJSC CB Pivdencombank and PJSC Terra Bank of funds totaling more than UAH 4 billion, which brought both financial institutions to insolvency, as reported by the PGO`s press office.
”The Office for Investigation of Crimes Committed by Criminal Organizations, together with the Criminal Procedures Office of the Prosecutor General`s Office of Ukraine, is conducting a pre-trial investigation in criminal proceedings on thefts during 2011-2014 by officials and shareholders of PJSC CB Pivdencombank and PJSC Terra Bank, owned by R. Tsyplakov, of funds amounting to over UAH 4 billion, as a result of which the banks became insolvent,” the statement reads.
It is noted that the funds were siphoned through a number of questionable loan agreements with allegedly fictitious business entities directly or indirectly related to the owners and managers of these banking institutions.
Currently, the investigation has proven the theft of UAH 360 million belonging to PJSC Terra Bank. Suspicion notices were issued against seven members of the established criminal organization headed by bank`s co-owner Ruslan Tsyplakov. The criminal organization also included other owners and management of PJSC Terra Bank and managers of a number of legal entities that, in order to create the appearance of respecting credit obligations, provided collateral to the bank in the form of property with its value overestimated by hundreds of times or not belonging to them.
The PGO noted that on April 27, searches were carried out at the homes of said individuals.
Five members of the criminal organizations have been put on a wanted list.