Interpol publishes red notice for ex-heads of Oranta insurer
Interpol has published red notice for former head of the supervisory board of Oranta national joint-stock insurance company (Kyiv) Oleh Spilka and a member of the supervisory board Oleksandr Tyminsky under a request of Ukraine, Ilyashev & Partners law firm defending BTA Bank (Kazakhstan), the largest shareholder in the insurance company, has reported.
According to a press release of the firm, Spilka and Tyminsky are accused of embezzling property of the insurance company worth over $10 million. According to the criminal case materials, these persons organized a scheme to transfer rights to Oranta trademarks to a firm affiliated to them in 2008. The price of the deal was UAH 6 million. The same trademarks were leased to the insurance company two months later for the period of five years. The insurance company paid over UAH 65 million for this. The same scheme was used to remove funds when shares in Garant-Assistance LLC were bought by the company. A damage of UAH 16 million was caused to the company.
The law firm said that the investigation department of the chief department of the National Police in Kyiv noticed Spilka and Tyminsky that they are suspected under Part 5 of Article 191 of the Criminal Code of Ukraine (Misappropriation, embezzlement or conversion of property by abuse of official post committed in respect of an especially gross amount, or by an organized group). Any actions provided by this article shall be punishable by imprisonment for a term of seven to twelve years, with forfeiture of property.
As reported, Oranta returned its right to use own trademarks: Ukraine's higher business court on September 27, 2016 upheld the ruling of the business court and Kyiv's business court of appeals that declared invalid the contract dated 2008 on the transfer of exclusive ownership rights to the trademarks for goods and services belonged to Oranta to IMG International Holding Company. Certificates for the ORANTA trademark and the Oranta Protects Ukraine motto that were directly registered to IMG International Holding Company are declared invalid.