Kyiv's Shevchenkivsky district court under a petition of Ukrainian Prosecutor General's Office (PGO) has extended the detention term for former board chairman of bank Mykhailivsky with an UAH 137.8 million bail option.

The court made the decision on October 8, Kyiv's PGO said on Facebook.

"The petition is to satisfy and expand the detention term for the suspect within the pretrial investigation term for 60 days, until December 6, 2016 inclusively. The bail of 100,000 minimum wages or UAH 137.8 million," the court said.

As reported, on August 13, the court arrested board chairman of bank Mykhailivsky Ihor Doroshenko and set the UAH 137.8 million bail.

Earlier Kyiv's PGO said that Doroshenko is suspected of embezzling UAH 870 million from the bank and brining the bank to insolvency. Doroshenko is suspected under Part 5 of Article 191 and Article 218-1 of the Criminal Code of Ukraine.