Cabinet fires head of State Innovation Financial-Credit Institution

15:28, 25.02.2016 1 min read

The Cabinet of Ministers has has decided to dismiss the head of the State Innovation Financial-Credit Institution, Arsen Isaakian, from the post, Prime Minister Arseniy Yatsenyik has said at a cabinet meeting.

"The decision has been made," the prime minister said.

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

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 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.