Kolomoisky and Bogolyubov withdrew $ 5.5 billion from “PrivatBank” through the Cyprus branch – OCCRP

Коломойский и Боголюбов вывели 5,5 млрд долларов из «Приватбанка» через кипрский филиал, - OCCRP

Former owners of “Privat” Igor Kolomoisky and Gennady Bogolyubov has been withdrawn from his account, $ 5.5 billion, due to the fact that the national Bank did not see the difference between Ukrainian branches of the Bank and its branch in Cyprus.

This is stated in the material journalists “Project of investigation of corruption and organized crime” OCCRP published April 19, reports DT.UA.

The author of the article Graham Stack refers to the findings of the report of the international Kroll company, was made by order of the NBU.

In the investigation said that the money from the “PrivatBank” were displayed on the Cyprus branch, and national Bank does not consider these transactions as suspicious. The regulator considered a branch in Cyprus as well as the Ukrainian office of “PrivatBank”. Thus, officials of the NBU did not see that money taken out of Ukraine.

At the same time, the Cypriot regulator did not notice that the transfers from Ukraine backed by a fictitious contract, or did nothing to stop them, said the author of the publication.

Detectives Kroll made a report on the basis of their own reporting nationalized “PrivatBank”.

The district administrative court of Kyiv on Thursday, April 18, upheld the claim of Igor Kolomoisky to the National Bank and the Cabinet of the illegality of the nationalization of “PrivatBank”. He also overturned the decision of the NBU on the list associated with “PrivatBank” individuals on the basis of which the decision on nationalitatii.

President Petro Poroshenko said that the claims of businessman Igor Kolomoisky “PrivatBank” are a threat to millions of depositors of the Bank and the risk of default and economic crisis in Ukraine.

In turn, Prime Minister of Ukraine Vladimir Groisman said that he supports the position of the NBU and the Ministry of Finance, which are going to appeal the court’s decision about the abolition of nationalization of “PrivatBank”. The evening of 18 April the head of state convened a meeting of the national security Council and instructed the PGO and SBU to evaluate the actions of judges on the subject of corpus delicti in their actions.

The NBU also said about the impossibility of the return of “PrivatBank” to the former owners.

The U.S. Embassy and the EU recalled that the international partners have supported the nationalization of “PrivatBank”, assuring that they continue to support the activities of the Ministry of Finance and the national Bank of Ukraine.

21 Dec 2016 “PrivatBank” has passed in state property. The state received 100% of its capital, the financial institution have been capitalized in the amount of 116.8 billion. At the end of June 2017, the Cabinet decided to capitalize the Bank for a further 38.5 billion UAH on the basis of the proposals of the NBU and the independent auditor’s report – EY.

As stated by Engin Akchakocha, Chairman of the Supervisory Board of PrivatBank, PrivatBank today is one of the best examples of the success of reforms in the public sector in Ukraine.