As reported, the prosecutor's office of Kyiv has served an indictment against the chairman of the board of Mykhailivskyi Bank JSC, charging him with embezzling 870 million hryvnia of bank funds and bringing the bank to insolvency. The employee and unidentified persons undertook a criminal scheme to withdraw a multimillion sum of depositors' funds from the the bank. Abusing his office, the chairman transferred 870 million hryvnia to the account of a fictitious firm. He has been detained and is facing a pre-trial restraint in the form of custody.
According to the National Police, 25 searches are underway at the bank, places of residence, offices and vehicles of the suspects. More than a kilogram of gold, a large number of U.S. dollar banknotes, luxury cars and hidden documentation have already been seized. Law enforcers will ask the court to arrest the obtained funds and assets in order to ensure the compensation for damages in furture.
"The malefactors, using several limited liability companies, siphoned the funds of the bank and brought it to insolvency. As a result of these illegal actions by Mykhailivskyi Bank officials, the financial institution has been designated as insolvent, which has caused a great material damage to the state in the face of the Fund for guaranteeing natural persons' deposits," the police noted.