NABU and SAPO complete investigation into misappropriation of over UAH 9.2 billion from PrivatBank
23 July 2025 15:48
The National Anti-Corruption Bureau and the Specialized Anti-Corruption Prosecutor’s Office have completed the investigation into the case of the former ultimate beneficiary of PrivatBank and five members of the group he organized. They are suspected of embezzling over UAH 9.2 billion of bank funds.
According to investigators, in January-March 2015, when the suspect was the head of the Dnipro Regional State Administration, he developed a scheme to misappropriate the bank’s money.
The plan involved transferring UAH 9.2 billion to a controlled offshore company, allegedly as payment for the redemption of PrivatBank bonds – but at an inflated price.
Subsequently, more than UAH 446 million was legalized through three legal entities under the guise of securities purchase and sale transactions.
The money was then passed through two more companies and eventually arrived at the beneficiary’s personal account. He used part of the funds to contribute to the authorized capital of PrivatBank to comply with the NBU’s requirements.
The case is transferred to the defense for familiarization with the materials before being sent to court.
- on September 7, 2023, the NABU, with the approval of the SAPO, served a notice of suspicion to the former ultimate beneficiary of PrivatBank and five members of his organized group of misappropriation of the bank’s funds in the amount of over UAH 9.2 billion.
The scheme
- In January-March 2015, when the suspect was the head of the Dnipro Regional State Administration, he developed a plan under which PrivatBank allegedly redeemed its bonds at an inflated price, thus artificially transferring UAH 9.2 billion to a controlled offshore company.
- Part of these funds – more than UAH 446 million – was legalized through several related legal entities under the guise of the purchase and sale of securities, and eventually went to the personal account of the beneficiary. Intent 7Interfax-Ukraine 7Business.Rayon 7
Suspects
- Final beneficiary of the bank (organizer of the scheme)
- Former chairman of the board of PrivatBank
- Heads and deputies of the treasury, dealing, and account servicing departments (five people in total).
One of the ex-directors was detained in accordance with Article 208 of the CPCU.
Scope of the case
- This is the fourth episode in the multilateral case of embezzlement of PrivatBank’s funds – the previous ones concerned approximately UAH 8.4 billion in various schemes.
- The total volume of materials exceeds 2,500 volumes – the case is considered one of the largest in the history of Ukraine’s anti-corruption authorities.
