Central bank ex-chief Shevchenko suspected of embezzlement in previous job, say prosecutors

6 October 2022, 04:28 PM
Head of the NBU Kyrylo Shevchenko (Photo:NBU / Flickr)

Head of the NBU Kyrylo Shevchenko (Photo:NBU / Flickr)

Former central bank governor Kyrylo Shevchenko, who resigned this week, has been charged with embezzlement, as part of an anti-corruption investigation into illegal activities taken by the state-owned Ukrgasbank – leading to losses over UAH 206 million ($5.5 million), the Specialized Anti-Corruption Prosecutor's Office reported on Telegram on Oct. 6.

"The Specialized Anti-Corruption Prosecutor's Office and the National Anti-Corruption Bureau of Ukraine exposed the illegal activities of officials of the state-owned JSB Ukrgasbank, which led to losses in the amount of more than UAH 206 million," the agency said in a statement.

According to prosecutors, the bank’s management – which included Shevchenko, who was the chairman of the board at the bank from 2014 to 2020 – fabricated contracts with individuals and legal entities, who allegedly attracted large customers to the bank as “agents,” SAPO said. For their "services", the bank is said to have illegally paid monthly fees – leading to the multi-million dollars losses.

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This scheme is said to have created 52 fabricated “agents” in total, from 2014 to 2020.

Shevchenko, along with five other people, have been charged so far in total – mostly former and current officials of banking institutions.

SAPO stressed that the facts set out in this charge are not related to Shevchenko's tenure as head of the NBU.

Shevchenko was appointed governor of the National Bank in July 2020 after Yakiv Smolii abruptly resigned from the post, accusing the country's leadership of putting pressure on the central bank.

MP Yaroslav Zheleznyak announced that the former head of the state-owned Oschadbank, Andriy Pyshnyy, may be Ukraine’s next central bank governor. A parliamentary committee will consider his candidacy on Oct. 6.

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