The Kyiv city prosecutor's office on August 12 informed the board chairman of Bank Mykhailivsky on suspicion of a criminal offense on the fact of embezzlement of Hr 870 million of bank funds and bringing the financial institution to insolvency.
“The banker jointly with persons not detected by the pre-trial investigation realized a criminal scheme, through which millions of hryvnias of depositors’ funds were withdrawn from the bank. Thus, abusing his official position, the board chairman on the basis of the illegal agreement transferred Hr 870 million to the account of a fictitious firm,” the press service of the prosecutor’s office said.
The prosecutor’s office also reported the chairman was detained during a joint operation of the Kyiv prosecutor’s office, the National Police and the State Security Service of Ukraine.
