Following the scandal and investigations: The Cabinet of Ministers has permanently removed Gladyshenko from Sense Bank
21 August 22:46
The Cabinet of Ministers has prematurely terminated the powers of Mykola Hladyshenko, chairman of the supervisory board of the state-owned Sense Bank. At the same time, a government representative was appointed to the board—the government is attempting to resume its operations and remove an obstacle to the bank’s sale.
According to the Cabinet of Ministers, at the suggestion of the Ministry of Finance, a state representative was also appointed to the supervisory board, reports
The main purpose of the appointment was to establish the quorum necessary for making strategic and personnel decisions.
Why Gladyshenko Was Fired Rather Than Simply Suspended
The personnel situation unfolded over the course of several days.
On August 19, the government suspended Mykola Gladyshenko from his duties for six months. The decision was made following the release of materials from an anti-corruption investigation and the conduct of investigative actions at the bank’s headquarters.
However, as early as August 20, the National Bank’s Committee determined that Gladyshenko did not meet the legal requirements for an independent member of the supervisory board.
NBU Governor Andriy Pyshnyy emphasized that in this case, it was not a matter of temporary suspension but of a complete termination of authority. The regulator submitted a corresponding request to the government as the bank’s owner.
Based on the information received from the NBU, the Cabinet of Ministers prematurely terminated Hladyshenko’s powers on August 21.
Why Sense Bank Needs to Restore Its Quorum Urgently
Following personnel changes, Sense Bank’s supervisory board did not have enough members to function properly. The NBU called this situation unacceptable for a state-owned financial institution.
Without a quorum, the supervisory board cannot fully make key decisions, particularly regarding:
- the bank’s development strategy;
- oversight of the management board’s work;
- personnel appointments;
- risk management;
- preparing the institution for a change in ownership.
That is why, concurrently with the termination of Hladyshenko’s powers, the government appointed a new state representative.
Prime Minister Serhiy Koretskyi instructed the Ministry of Finance, in cooperation with the NBU, to immediately ensure proper corporate governance and the thorough preparation of Sense Bank for sale.
How Personnel Changes Are Linked to the Bank’s Sale
The government began preparations for the sale of the state’s stakes in Sense Bank and Ukrgasbank as early as 2025.
In April 2026, the Ministry of Finance announced a competition to select an advisor to oversee the privatization of the two banks. The contract with the advisor will provide for the provision of services through March 1, 2029.
The resumption of full-fledged operations by the supervisory board is necessary for:
- conducting a bank valuation;
- preparing documentation for potential investors;
- undergoing legal and financial due diligence;
- making decisions regarding distressed assets;
- maintaining confidence in corporate governance.
Therefore, the new appointments do not yet mean that Sense Bank will be sold in the near future. The government has not yet named a potential buyer, nor has it disclosed the price or the date of the transaction.
At the same time, Koretsky previously stated that the sale process needs to be accelerated, and the proceeds are planned to be directed toward the needs of the Armed Forces.
What Is Known About the Investigation
On August 19, investigative actions related to certain officials took place at Sense Bank’s headquarters. The bank confirmed the inspections and stated its readiness to cooperate with law enforcement agencies.
Following the release of materials from NABU’s “Forest Gump” operation, the National Bank also opened proceedings regarding the possible collective unfitness of the entire Sense Bank supervisory board.
According to the NBU’s assessment, Gladyshenko’s temporary recusal may have been merely a formality, while he allegedly continued to influence the bank’s operations. The regulator will determine the final consequences for other board members after the investigation is completed.
How Sense Bank Became Involved in the 150 Million Hryvnia Case
According to investigators, the group exposed during Operation “Forrest Gump” may have laundered approximately 150 million hryvnias in cash. The money was allegedly introduced into official circulation to be used as bail for one of the defendants in another anti-corruption case—the “Midas” case.
The NABU claims that the following could have been used to carry out the transactions:
- accounts of controlled companies;
- the infrastructure of a state-owned bank;
- the official authority of certain officials;
- prearranged financial transactions.
According to NABU detective Mykhailo Romaniuk, the organizers of the scheme allegedly gained de facto control over Sense Bank, which allowed them to use the financial institution for their own benefit.
This is the version presented in the pretrial investigation. Only a court can provide a final legal assessment of the actions of each of the individuals involved.
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Why This Is a New Chapter in the Scandal
The Cabinet of Ministers’ latest decision is a continuation of a story that began back in the spring of 2026 following the release of the so-called “Mindich tapes.”
According to journalists, the recordings contained discussions about the future composition of Sense Bank’s supervisory board even before the Cabinet of Ministers’ official decision. Following the scandal, Mykola Hladyshenko recused himself from his duties for the duration of the investigation.
At the same time, the National Bank initiated administrative proceedings to determine whether Oleksiy Stupak met the qualification requirements. The regulator also reviewed the independence of the supervisory board chair.
READ ALSO: The government wants to sell “Sense Bank” as soon as possible
As reported by
Sense Bank in the “Mindich tapes”
The composition of the supervisory board of the state-owned Sense Bank, appointed by the Cabinet of Ministers on June 18, 2025, had been discussed more than a month earlier by those implicated in the “Midas” case, according to “Ukrainska Pravda.”
According to the publication, the new “Mindich tapes” capture a conversation between Oleksandr Zuckerman (whom the NABU investigation identifies as a co-organizer of corruption schemes in the energy sector led by Timur Mindich and an employee of the “back office” for money laundering—ed.) and Vasyl Veselyi (a businessman, shareholder, and owner of “Kyivpidzemshlyakhbud” LLC—ed.), who became an advisor to the bank’s management following the nationalization of Sense Bank.
In a conversation on May 9, 2025, Vesely, as reported by UP, allegedly presented a preferred list of members for the bank’s supervisory board: Petr Novak, Jerzy Shugaev, Eva de Falk, Oleksandr Shchur, Mykola Hladyshenko, and Oleg Mistyuk. Forty days later, the Cabinet of Ministers appointed precisely these individuals to the supervisory board of Sense Bank.
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In a published excerpt from the transcript of the so-called “Mindich tapes,” Veselyi also discusses with Zuckerman the distribution of influence on the financial institution’s supervisory board, noting that “there should be 5 or 6 of our members” out of nine, according to UP.
Law enforcement agencies and the court are to provide a legal assessment of these conversations.
In June, the bank announced the completion of an internal audit conducted following earlier publications about the “Mindich tapes.”
As Sense Bank noted following the audit, the review found no evidence of preferential treatment, the application of non-standard service terms, or violations of internal procedures regarding the individuals and companies mentioned in the earlier reports.
At the time this article was prepared, Sense Bank had not issued a separate public statement regarding the “Forest Gump” transaction or the Cabinet of Ministers’ latest decision.
About the Bank
Sense Bank (JSC “Sense Bank”)—formerly Alfa-Bank Ukraine —one of Ukraine’s largest banks, founded in the 1990s and formerly known as Alfa-Bank Ukraine, which, prior to the full-scale war, was part of an international group of Russian origin.
In 2022, the financial institution underwent a rebranding, changing its name to “Sense Bank,” and in July 2023, it was nationalized: the state, represented by the Ministry of Finance, acquired 100% of the bank’s shares. This decision was made in light of the risks to financial stability and the previous owners’ ties to Russian businesses.
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