The National Police of Ukraine has uncovered members of a criminal organization that embezzled over 90 million hryvnias, enlisting an entire financial institution to execute their scheme.
Details were reported by the press service of the National Police.
The perpetrator, with criminal intent, acquired a bank and involved the Chairman and members of the board, the Chairman of the supervisory board, private entrepreneurs, appraisers, and state registrars in the scheme. The organization registered large real estate properties in the state registry that were supposedly located in central areas of Kyiv and Kharkiv. These fictitious properties were used as collateral to secure loans amounting to over 90 million hryvnias.
In 2021, the bank was declared insolvent as it failed to make payments to its clients and fulfill payment orders.
During the investigation conducted by the National Police detectives and operatives from the Strategic Investigations Department, 27 participants of the criminal organization were identified, who operated over various years.
To recover damages and preserve evidence, the police seized the assets of the suspects, including: 12 apartments in Kyiv, 5 private houses in the city center totaling over 2000 m²,
land plots, 12 luxury cars, parking spaces, and corporate rights in the authorized capital of affiliated companies.
The suspects face up to 12 years in prison with the confiscation of property.