GPU opened a case against the former management of PrivatBank

The Prosecutor General’s office opened a case of incitement PrivatBank to insolvency.

Nationalized Privat using auditor installed system violations by the former management of the Bank’s loans to 133 billion and during their service, and sent these materials to the Prosecutor General.

About this informed the head of the Board Oleksandr Shlapak.

“Today the Prosecutor General’s office opened a criminal case under article 218, and 220 – bringing the Bank to insolvency”, – he said.

Shlapak said that we are talking about loans 36 companies 133 billion that was issued in October-November 2016, and which was repaid loans 193 other borrowers of the Bank, more than half of which had a rate of 12-12. 5% per annum with reference to the dollar and real collateral.

The head of the Board said that the rate on new loans amounted to 10.5% per annum, while the Bank’s credit Committee has approved rate of 34% per annum, and the Bank attracted funds of the national Bank of Ukraine under 22% individuals – 19%, legal entities under 14.2 percent.

“This is the pinnacle of the financial pyramid PrivatBank”, – said Shlapak.

According to him, almost all new borrowers were not economic activity, was created less than a year ago and had a negative financial situation.

The head of the Board said that all 36 loans were signed by the former Chairman of the Board (at that time Alexander Dubilet – ed.) in excess of authority. The national Bank was provided false data on uncovered credit risk and non-developed reserves, and borrowers have not been tested for connectivity, their financial position is artificially inflated.

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