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Bank Khreschatyk brought a billion hryvnia – the Deposit guarantee Fund

Photo: 5.ua the Bank bought “junk” securities

For four days the loan portfolio insider loans decreased to 880 million.

Before the introduction of the provisional administration of the Bank Khreshchatyk brought liquidity provision. As reported on the website of the Deposit guarantee Fund of individuals ‘ deposits, the funds derived, including through scheme repayment of loans to related parties.

In early April, 2016, just four days loan portfolio insider loans decreased to 880 million.

The Fund noted that the Bank has carried out a number of operations aimed at rapid folding of the loan portfolio of the Kiev investment group with the goal of liberation from the provision of highly liquid assets. The repayment was done by transferring balances from current accounts of legal entities and individuals, including the provision of returnable financial assistance from utilities and other enterprises of the group of KIG .

In the future, these funds accumulated in current accounts of the two companies group KIG, namely the company of avalon and agricultural company Troyanda, and then went to the accounts of companies group KIG that had credit debt and highly liquid security with a payment Financial assistance.

Operations on schematic repayment of loans granted by the group to related parties – Forum. The Bank bought “junk” securities. The company that sold them, the funds received were directed in the authorized capital of newly established enterprises. With them, the Bank signed agreements on assignment of right of claim on previously provided loans to related parties with the removal of the encumbrance from the mortgaged property. The funds were returned to the Bank as payment for these contracts of cession.

The Fund has also revealed a scheme to withdraw funds from Bank Khreschatyk by lending to related entities for the purchase of construction equipment at one of non – Alesio Universal S. A. Tortola, British Virgin Island.

The total amount received loan funds totaled $31.3 million, Despite the fact that the payment was made in advance, none of the contracts were not fulfilled. These operations were removed from exchange control.

It is noted that then, the currency returned to the accounts related party in another Bank and was converted into the hryvnia, and transferred to a shell company.

The Fund noted that as at 6 April 2017 foreign currency loans for a total of $30,26 million remain outstanding.

Recall that in April 2016 the Bank Khreshchatyk was declared insolvent.

As reported, Bank Khreschatyk issued to bogus firms $40 million.

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