The HACC will try the fugitive ex-head of the National Bank, Shevchenko

The HACC will try the fugitive ex-head of the National Bank, Shevchenko

The National Anti-Corruption Bureau and the Specialized Anti-Corruption Prosecutor’s Office have sent the case against Kyrylo Shevchenko, who was the head of the National Bank of Ukraine, to court.

This was reported on the NABU website.

Shevchenko’s case is connected to his activities as the chairman of the board of Ukrgasbank from 2014 to 2020.

According to the investigation, an organized group led by Shevchenko embezzled 206 million UAH of the bank’s funds by paying for fictitious intermediary services to attract funds from major clients and state institutions. In reality, the clients themselves placed deposits in Ukrgasbank or did so by decision of the Cabinet of Ministers, but the bank paid agents for services that were not provided.

The agents were specially created individual entrepreneurs, self-employed individuals, and legal entities for this scheme, who ceased their activities after receiving the money.

Among the accused, besides Shevchenko, are: the former deputy chairman of the board (who also held the position of deputy minister of justice), former leaders of one of the bank’s departments, the former head of the bank’s regional directorate, and three fictitious partners, including the former first deputy general prosecutor.

They have been charged under Articles 191 (embezzlement), 255 (participation in a criminal organization), 209 (money laundering), and 366 (official forgery) of the Criminal Code of Ukraine, depending on their role in the scheme.

Eight other participants in the crime have already received guilty verdicts based on confessions. They agreed to testify against others, compensated for 35 million UAH in damages, and transferred 14.726 million UAH to support the Armed Forces of Ukraine.

Shevchenko denies his guilt and instead sees himself as the savior of Ukrgasbank. In an interview with LIGA.net, he stated that working with agents was an anti-crisis decision and a regular market practice that no one applied in state banks before him.

"The use of this tool in a state bank was an absolutely unconventional decision. It not only saved the bank from bankruptcy but also put it in a leading position, making it one of the market leaders," Shevchenko said.

He is convinced that without this tool, Ukrgasbank was at risk of disappearing.