The National Anti-Corruption Bureau of Ukraine, or NABU, announced seven new suspects in an embezzlement case against wanted tycoon Oleg Bakhmatyuk’s VAB Bank, the bureau’s press service announced on May 25.
Six of the suspects used to work at the National Bank of Ukraine and one served as an intermediary who allegedly helped VAB Bank get a controversial 1.2 billion hryvnia ($45 million) stabilization loan in 2014.
If convicted, the suspects face up to six years in prison and an Hr 17,000 ($620) fine. The list of suspects involved in the case now amounts to 17 people, including Bakhmatyuk.
Bakhmatyuk, an exiled Ukrainian billionaire, is wanted for embezzlement and money laundering. He allegedly owes the Ukrainian government, the National Bank and the Deposit Guarantee Fund of Ukraine a combined $1 billion for the loans he received during the 2014-15 banking crisis, according to the NBU.
The agricultural tycoon is also accused of embezzlement and shady insider lending using his two banks, VAB Bank and Financial Initiative.
Bakhmatyuk denied all wrongdoing and said that his practices had nothing to do with his banks going bust.
However, the banks’ depositors say they were robbed. At least $108 million belonging to 15,000 depositors in Bakhmatyuk’s VAB bank disappeared after the bank collapsed in November 2014.
