BG Bank. A scheme for withdrawing money from Pshonka's bank has been revealed.

BG Bank used a European loan to buy bonds at market price and then resold them for next to nothing.

ZIK journalists investigated a scheme to siphon funds from BG Bank (Bank Pershy), which was linked to former Prosecutor General Viktor Pshonka. The Security Service of Ukraine reported in early 2015 that approximately 65 million hryvnias of a European loan had disappeared from the institution.

 

The institution was closed at the end of November last year. This occurred after the National Bank of Ukraine (NBU) discovered an illegal transaction involving government bonds financed by a loan from the European Investment Bank.

The bank purchased domestic government bonds worth approximately 61 million hryvnias and then resold them for less than 9 hryvnias. "This was a transaction that the bank concealed, but the National Bank uncovered it and subsequently declared the bank insolvent," said Kateryna Rozhkova, head of the NBU's banking supervision department.

It was impossible to find the buyer of the government bonds using the documents, as they had simply disappeared. The buyer's name should be known to the Settlement Center, but this institution is not disclosing it to either the National Bank or the liquidated BG Bank.

Thus, €3,5 million of the EIB loan, which Ukrenergo was supposed to use to build a high-voltage line from the Zaporizhzhia Nuclear Power Plant to the Kakhovska substation, was buried in the bank. Remarkably, this money was transferred to the bank administering the European loan after it had already been assigned a supervisor and while its financial problems were being widely covered by the media. The transfer was signed by then-Deputy Finance Minister Vitaliy Lisovenko.

In addition to the government bond scheme, it was established that the bank effectively gave away a plot of land worth 2,6 million hryvnias near Kyiv, a residential building in Kozyn, paid 17,8 million hryvnias for fictitious advertising services, de facto wrote off a €4 million debt owed to one of its clients, and so on. All the companies to which the assets were transferred are connected through directors, lawyers, and addresses. These documents were signed by BG Bank Deputy Chairman Vadym Dratver, who had only been on the job for 15 days.

 

 

LB

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