Former management of PrivatBank to stand trial on suspicion of embezzlement of billions
14 August 21:47
The court will consider the merits of the case of former PrivatBank top managers in September 2025. This is reported by "Komersant Ukrainian" with reference to the Anti-Corruption Action Center.
on August 14, 2025, a panel of judges of the High Anti-Corruption Court (HACC) completed preparatory proceedings in the criminal proceedings against the former Chairman of the Board of PrivatBank, his first deputy, deputy and three heads of the bank’s departments. The court has scheduled the trial on the merits for September 25, 2025.
The case is being considered by a panel of judges consisting of Markiyan Galabala, Viktor Nogachevsky and Inna Serdyukova (Bilous).
The case of PrivatBank top managers: the essence of the charges
According to the investigation, in December 2016, the day before PrivatBank was declared insolvent, the suspects, acting on false documents, paid about UAH 223 million to companies controlled by and related to the bank. Subsequently, these funds were transferred abroad for the purpose of legalization.
In addition, the investigation found that on the eve of the bank’s nationalization, top managers embezzled more than UAH 8.2 billion. According to the prosecution, the top officials used forged documents and fictitious loans to embezzle funds in favor of Claresholm Marketing Ltd.
According to the investigation, in order to prevent further collection of funds in favor of PJSC CB PrivatBank and to conceal the scheme, the defendants organized an illegal and documentarily unjustified replacement of the debtor with another company also related to the bank.
According to the detectives, these actions had signs of embezzlement on a particularly large scale, which is a serious crime under Ukrainian law.
What is known about the defendants in the embezzlement case
There are six defendants in the case:
- oleksandr Dubilet, former chairman of the board of PrivatBank
- his deputies Volodymyr Yatsenko and Liudmyla Shmalchenko;
- head of the Interbank Operations Department Nadiia Konopkina;
- head of the Financial Management Department Olena Bychikhina;
- head of the Operations Department Natalia Onyshchenko.
The case of PrivatBank embezzlement of UAH 8.2 billion: context
The nationalization of PrivatBank took place in December 2016 after the discovery of a capital deficit that, according to the NBU, exceeded UAH 148 billion. The state acquired 100% of the bank’s shares and invested heavily in its recapitalization.
Cases of alleged abuse by the bank’s former management have been under investigation for several years, and the HACC is the key court for their consideration.
Read also: Kolomoisky lost to PrivatBank in the London court
It should be noted that there is another case related to PrivatBank. The anti-corruption authorities opened the case file for review on suspicion of the former ultimate beneficial owner of PrivatBank, Ihor Kolomoisky , and five members of a group he organized of misappropriating the bank’s funds worth more than UAH 9.2 billion.
According to the NABU and the SAPO, in 2015, Kolomoisky, as the owner of the bank and at that time also the head of the Dnipro Regional State Administration, developed a plan to seize PrivatBank’s funds in order to further finance a controlled offshore company and increase his own share in the bank’s authorized capital. To do this, the bank was artificially obliged to pay over UAH 9.2 billion to the company controlled by Kolomoisky under the pretext of allegedly buying back its own bonds at an inflated value.
A part of these funds, namely over UAH 446 million, was legalized under the guise of securities purchase and sale transactions. The money was transferred to Kolomoisky’s personal account through a series of financial transactions with controlled companies, and then he contributed it to the bank’s authorized capital to fulfill the requirements of the financial rehabilitation program of PrivatBank. The suspects disposed of the remaining funds at their own discretion.
The NABU and the SAPO have already completed the investigation of this case.
Читайте нас у Telegram: головні новини коротко
