11:28 19.09.2015

Tymoshenko claims Russia's Alfa-Bank earns $320 mln due to insider information leakage from govt

2 min read
Tymoshenko claims Russia's Alfa-Bank earns $320 mln due to insider information leakage from govt

Russia's Alfa-Bank used insider information to buy and sell Ukraine's state debt, earning $320 million on this, Batkivschyna Party faction leader Yulia Tymoshenko has said.

"Starting from April, knowing that the debt is to be written down on April, not the state that entered the secondary market to buy its debts, but a large intermediary fund structure, which bought $1.2 billion of the state debt at the average price of 56% of the face value. Then, knowing about the announcement of the restructuring, it sold our securities for 79.8% of the face value, earning $320 million in several days. The most interesting thing is that Russia's Alfa-Bank is behind this scam. The scam was realized only thanks to the leakage of insider information from the government," Tymoshenko said on the Shuster Live political talk show on Friday.

Tymoshenko said that Alfa-Bank managed to earn money, which the government was to write off, thanks to the leakage of information from confidants in the government.

"Government-appointed envoy for foreign debt management Vitaliy Lisovenko worked at top positions in Alfa-Bank before 2014. Who gave the right to appoint the shill from the Russian bank the government envoy for managing Ukraine's state debt?" she said.

She called on international structures to investigate into this fact.

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