Fortuna-Bank officials withdraw funds through insider loans before temporary administration
The Individuals' Deposit Guarantee Fund has revealed manipulations with the assets of Fortuna-Bank conducted by its officials before the introduction of temporary administration in the financial institution, which caused a loss of UAH 2.235 billion, of which UAH 1.840 billion is the debt on the loans of related individuals, according to the fund's website.
According to the report, the funds in the amount of UAH 2.105 billion issued to related persons account for about 98% of the loan portfolio of Fortuna-Bank. At the same time, loans in the amount of UAH 1.551 billion were not secured.
The total balance sheet value of Fortuna-Bank assets at the time of approval of the liquidation mass on April 24, 2017 amounted to UAH 2.322 billion, while the market value of the assets amounted to UAH 595 million. The shortage of liquidation mass in relation to the claims of creditors amounted to UAH 397 million.
On these facts, the authorized person of the fund sent a statement to Kyiv prosecutor's office No. 7.
The NBU made the decision to revoke the banking license and liquidate Fortuna-Bank on February 21, 2017.
The fund began the liquidation of the bank from February 22, 2017. The liquidation procedure will last two years until February 21, 2019.