The officials of the National Anti-Corruption Bureau of Ukraine (NAB) have detained the head of the State Innovation Financial-Credit Institution on suspicion of misappropriation of state property worth over UAH 14 million.

"The director of the State Innovation Financial-Credit Institution was detained at his workplace on February 18 on suspicion of state property embezzlement in a large scale [more than UAH 14 million] by abuse of office [Part 5 of Article 191 of the Criminal Code of Ukraine]," the NAB press service wrote on the official Facebook page.

The bureau also informed that on the same day a preventive measure was defined for the detainee in the form of detention for up to 60 days. At the same time, the investigating judge defined a bail in the amount of UAH 13.78 million.

The bureau has not report the name of the detainee.

The State Innovation Financial-Credit Institution (formerly the Ukrainian State Innovation Company) was founded in 2002 as a non-banking financial institution on the basis of the State Innovation Fund.