ESBU has submitted an indictment to court against an oligarch and his accomplice for the misappropriation of UAH 5.3 billion

 Detectives of the Economic Security Bureau of Ukraine have sent an indictment regarding an oligarch and his accomplice – the former head of a capital city bank branch.

According to the investigation, between March 2013 and February 2014, an organized group created and led by the oligarch operated as a stable association with a clear distribution of functions among participants. Their plan was aimed at seizing funds from several large enterprises and banking institutions. Specifically, under the guise of legitimate financial and economic operations and using forged documents, funds were withdrawn from the accounts of a bank and the joint-stock company "Ukrnafta," as well as participants in a joint investment activity agreement.

The accomplices withdrew money by conducting bank transfers based on fictitious documents and creating an artificial appearance of the legality of their origin. For this purpose, they documented alleged cash deposits that were not actually carried out. Subsequently, the funds were transferred between various banking institutions, and to cover their illegal origin, fictitious contracts were concluded, including those for the alleged performance of geological exploration work. In this manner, more than UAH 5.3 billion was credited to the oligarch's personal account, which made it possible to legalize these funds and mask their true origin.

Expert studies and analysis of the movement of funds confirmed that losses to "Ukrnafta" alone amounted to about UAH 3 billion. The total amount of illegally misappropriated and legalized funds exceeded UAH 5.3 billion. The evidence obtained testifies to the scale of the scheme and the multi-level nature of its implementation, which included the forgery of documents, the use of controlled legal entities, and the involvement of several banking structures.

Regarding the oligarch's accomplice – the former head of the bank branch – the investigation established that he ensured the preparation of documents that allowed for illegal transfers and other operations necessary for the implementation of the scheme. Interrogated witnesses confirmed the fictitious nature of the movement of cash, particularly through the bank where the funds were allegedly received but did not actually arrive.

In the course of the pre-trial investigation, the oligarch's property and bank accounts were seized.

The indictment covers facts of organizing the misappropriation of others' property in especially large sizes, legalization of income obtained by criminal means, and illegal actions with transfer documents (Part 3 of Art. 27, Part 5 of Art. 191; Part 3 of Art. 27, Part 3 of Art. 28, Part 2 of Art. 200; Part 3 of Art. 27, Part 3 of Art. 209; and Art. 27, Part 3 of Art. 28, Part 2 of Art. 366 of the Criminal Code of Ukraine).

Procedural guidance was carried out by prosecutors of the Office of the General Prosecutor. The case has been transferred to court for consideration on the merits.