Ukrainian President Petro Poroshenko is proposing that parliament introduce criminal liability for causing a bank to become insolvent, with the imposition of up to five years of imprisonment for the bank's director, its ultimate beneficiary, or other significant shareholders, if this causes damage to the state or a creditor in excess of UAH 170.
The corresponding bill “On Amendments to Certain Legislative Acts Regarding the Liability of Bank-Related Persons” (No. 2085) was registered in the Verkhovna Rada on Tuesday.
As a source in the Verkhovna Rada of Ukraine told our publication, this bill has generated some resistance among top managers in the banking sector.
"We are now witnessing a repeat of a situation typical of parliaments of previous convocations, where interested parties begin to 'work' with members of parliament to defeat this bill," the source reports.
According to him, some responsible persons of Ukrgasbank are coordinating this activity.
As is known, Kyrylo Shevchenko was appointed acting Chairman of the Board of Ukrgasbank in December 2014. Media reports indicated that Kyrylo Shevchenko served as president of Terra Bank in 2014, a position with broad powers. During this time, he allowed the bank to effectively cease operations.
Specifically, according to media reports, Kyrylo Shevchenko, a former shareholder of Terra Bank, carried out a "scam" involving refinancing from the NBU in the amount of UAH 77,100,000. The property rights under the bank's loan agreements were used as collateral. Chairman of the Board O. Savoshchenko contacted Credit Brokerage Agency LLC to prepare an appraisal report for the collateral. The resulting report significantly inflated the actual value of the property. Thus, the book value of the loans as of March 3, 2014, allegedly amounted to UAH 300,161,435.25.
As a result of the falsification of minutes No. 25 of the bank's Supervisory Board meeting, a decision was made to authorize O. Savoshchenko, Chairman of the Board, to sign a loan agreement with the NBU for UAH 77 million and to sign a pledge agreement for property rights under loan agreements concluded by Terra Bank. This document was signed by S. Klymenko, Chairman of the Supervisory Board, and O. Chorny and Yu. Obletsova, members of the Supervisory Board, although in fact none of them participated in the meeting, and Klymenko was actually abroad.
When Terra Bank effectively ceased operations, Kyrylo Shevchenko was promptly transferred to a new position at Ukrgasbank, and his protégé, Yury Irkliyenko, was appointed as temporary administrator. This appointment violated the Law of Ukraine "On the Deposit Guarantee System for Individuals," which stipulates that a temporary administrator cannot be a person affiliated with the bank. The administrator must have had no relationship with the financial institution in the previous five years, while Yury Irkliyenko was a client of Terra Bank.
Subscribe to our channels in Telegram, Facebook, Twitter, VC — Only new faces from the section CRYPT!