13:04 09.09.2015

Court arrests head of insolvent Terra Bank supervisory council Klymenko – Deposit Guarantee Fund

2 min read
Court arrests head of insolvent Terra Bank supervisory council Klymenko – Deposit Guarantee Fund

The Holosiyevsky District Court of Kyiv has arrested head of the supervisory council of insolvent Terra Bank (Kyiv) Serhiy Klymenko for up to 60 days and bail has been set at UAH 15 million, while the Kyiv prosecutor's office has stated it suspects member of the bank supervisory council Yulia Obletsova of committing a criminal offense, according to the Individuals' Deposit Guarantee Fund.

"These citizens are suspected of embezzling the depositors' funds (Part 5 of Article 191 of the Criminal Code) within the intention bringing the bank to bankruptcy. The matter concerns the embezzlement of property in especially large amounts (more than UAH 1 billion) by abuse of official position," the fund said.

It emphasized that the criminal case was opened after the relevant statements of the fund and its interim administrator at Terra Bank.

"It has been established that Klymenko, using his official position, in January-February 2014 withdrew substantial funds, attracted by the bank from individuals, to a number of false companies in the form of unsecured loans. These operations have all the signs of fraud, as these companies had no collateral required by loan agreements and did not perform economic activities," the fund said.

According to its report, Klymenko and his partners have repeatedly tried to impede the investigation and make attempts to avoid justice. In this regard, it was decided to detain the suspect and apply for his arrest in court.

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