Pechersky district court on October 30 arrested funds stored in the deposit accounts of Melon 8 LLC which were placed under agreements with public joint-stock company National Bank for Development (VBR), part of MAKO Group, which belongs to the son of former Ukrainian president Viktor Yanukovych, Oleksandr Yanukovych.

According to a court ruling, an Interior Ministry investigator said in a petition that from February 5 to April 14, 2014, the deputy head of the Pivdenno-Zakhidna railways abused their office and illegally signed an agreement with VBR on the provision of an overdraft.

The investigator also said that from January 1, 2013 through to June 30, 2014, officials of all six Ukrainian railways, in collusion with VBR officials in violation of the procedure for taking credits, illegally raised over UAH 2.5 billion and paid public funds to this bank for the use of the funds.

VBR was registered in 2009.

VBR ranked 36th among 158 operating banks as of January 1, 2015 in terms of total assets worth UAH 5.635 billion, according to the National Bank of Ukraine (NBU).