Kolomoisky and Bogolyubov steal Privatbank $ 5.5 billion
independent study of American detective agency "Kroll" confirmed that the nationalization of "PrivatBank" carried out large-scale fraud.
"PrivatBank was the object of extensive and coordinated fraudulent activities for at least ten years before the nationalization, which led to the application of bank losses amounting to at least $ 5.5 billion," - said in a statement.
Thus, the investigation of "Kroll" showed withdraw funds from the bank was through the acquisition of assets and financing business in Ukraine and abroad for credit funds "PrivatBank" in favor of the former shareholders and groups affiliated with them persons.
"The mechanisms used to hide the real source and destination of loans have the characteristics of a coordinated scheme of money laundering. The volume of transactions and the speed of their implementation (in minutes between operations), lack of reasonable economic ties between the person repays the loan and the original borrower, and the widespread use of offshore special purpose company (SPV), evidence of attempts to conceal the true destination of the funds regulators and other stakeholders, "- said in the conclusions of the investigation.
NBU also reports that the central element of organized fraud of the loan portfolio and withdrawal was within the shadow banking structure "PrivatBank". This structure ensures the secret payments and cash flows contributed by hundreds of loan agreements worth billions of dollars for the benefit of persons associated with the former shareholders and groups affiliated with them persons. This shadow banking entities were involved hundreds of employees "Privatbank".
"Shadow banking structure managed corporate loan portfolio of connected persons. Under her supervision provided new loans, which are usually used for repayment of principal and interest on existing loans to related parties (cyclical lending). It provided of transactions to conceal the source and destination real credit, creating the appearance of an ordinary bank customer, "- said in a statement.
Thus the bank attracted funds of Ukrainian and foreign investors to support cyclical lending schemes. To conceal this information stated in the investigation, the bank has repeatedly provided false information regarding its financial condition.
"Before nationalization in December 2016 over 95% of the corporate loan portfolio was given to the parties associated with former shareholders and groups affiliated with them persons. At the end of 2016, 75% of the portfolio was consolidated in 36 borrowers loans related to the former shareholders and groups affiliated with them persons. Most of them are paid and is overdue, leading to bank losses at least 5.5 bln. Dollars ", - states in the NBU.
Thus, according to the NBU, independent research detective agency «Kroll» confirmed previous expert National Bank.
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