Another state-owned bank has appeared: “Boguslaev’s Motor-Bank is now owned by Ukraine
10 September 2024 13:04
Ukraine has become the owner of 100% of shares in Motor Sich JSC, which were confiscated from Vyacheslav Boguslaev, the former president of Motor Sich, who is suspected of working for the aggressor country. This was reported by "Komersant Ukrainian" with reference to the bank’s press service.
It is reported that changes have been made in the Register of registered securities holders – the state, represented by the State Property Fund of Ukraine, has become the owner of 100% of the shares of MOTOR-BANK JSC.
“The transition of JSC Motor-Bank to state ownership is an important step to ensure the stable operation of the bank and support the interests of depositors, creditors and customers of the bank, as well as protection against threats to the financial stability of the country,” the bank said in a statement.
It is noted that the nationalisation of the bank is taking place without interrupting any work processes.
“The bank is calmly continuing its work in the interests of the state and citizens and is starting a new stage of its activities. Further sustainable development of the bank, development of innovative product solutions, participation in government programmes and attraction of new partners and customers are our goals in the status of a state-owned bank,” the bank added.
Earlier it was reported that the confiscated assets of Vyacheslav Boguslaev, former president of Motor Sich, and Petro Kononenko, CEO of the Russian company Borysfen and former director of the Moscow office of Motor Sich, were transferred to the State Property Fund.
Boguslaev’s stakes or 100% of the companies were seized for state revenue: Zolota Aistra LLC, Motor-Garant Insurance Company, Vinnytsia Aviation Plant LLC, SME Helicopters, Motor Bank JSC, and Azov Trade-XXI PrJSC. All real estate and land plots are located in Zaporizhzhia or the region.
It should be noted that the High Anti-Corruption Court imposed sanctions against Viacheslav Oleksandrovych Bohuslaev and Petro Ivanovych Kononenko under paragraph 1-1 of part one of Article 4 of the Law of Ukraine “On Sanctions”. They were served with a notice of suspicion of collaboration and aiding the aggressor state.
In April, the High Anti-Corruption Court of Ukraine allowed the confiscation of Boguslaev’s assets.
In addition, Vyacheslav Boguslaev’s funds were recovered to the state. It is about the money placed on accounts with JSC Motor Bank in the amount of over UAH 554 million and JSC FUIB in the amount of UAH 79.5 million.
What Vyacheslav Boguslaev, former CEO of Motor Sich, is suspected of
Boguslaev was detained by the Security Service of Ukraine in October 2022 together with the head of the company’s foreign economic activity department.
He is facing charges of assisting the aggressor country, collaboration, support for terrorist organisations and, according to recent reports, resistance to the Armed Forces of Ukraine. The arrest of Boguslaev is related to suspicion of cooperation with Russia and illegal export of Ukrainian engines for Russian military helicopters through intermediaries in third countries.
It was discovered that he had been a Russian citizen since 2000 and owned real estate in Moscow.
In October 2023, the court case of the former head of Motor Sich, Vyacheslav Boguslaev, was brought to court, and his assets worth UAH 12 billion were seized.
