KIEV: Senior officials from the National Bank of Ukraine are being checked by the National Anti-Corruption Bureau on suspicion of the embezzlement of funds allocated for the refinancing of commercial banks, Bureau chief Artem Sytnik told Ukrainian television channel 1+1.
The checks follow on the reports that the National Bank was searched by the anti-corruption authority last week, which saw a number of Bank documents confiscated. According to Ukraine’s anti-corruption regulator, the investigation is part of a criminal investigation into officials’ abuse of office. “We are checking on the legality of the spending on refinancing, and the involvement of the National Bank’s management in this process,” the official added. Sytnik clarified that the possible wrongful spending could amount to billions of hryvnia, with “much of the money issued for refinancing transferred either to offshore funds or foreign banks.” For reference, one billion hryvnia is equivalent to about $37 million US. According to the National Anti-Corruption Bureau, the period of investigation includes the years 2015 and 2016.
The National Bank’s press service refuted the information. “The press service does not confirm the information about the resignation of National Bank of Ukraine head Valeria Gontareva. As you are aware, the Bank traditionally informs about changes in the composition of its board a month in advance,” the press service’s statement says. On Monday, Ukrainian financial journalist Alexander Dubinsky wrote that in addition to the Anti-Corruption Bureau, the US Federal Bureau of Investigation had also taken an interest in Gontareva over the alleged redirection of financial assistance provided by the US and the IMF into offshore funds.
