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Lutsenko allows the opening of criminal cases on the results of the investigation, Kroll activities PrivatBank

The General Prosecutor of Ukraine Yury Lutsenko allows the opening of a number of criminal proceedings and announcements about suspicions on a number of economic crimes revealed by the investigation of PrivatBank conducted by Kroll.

“There was a segment in which it was written that the funds were withdrawn directly into accounts controlled by the shareholders, the owners of PrivatBank for personal use. I also asked colleagues from Kroll to confirm that at least part of the loans was spent on personal needs: relatively speaking, yachts, aircraft, other personal needs of the owners. If it is provided, is also likely to article about the money laundering and related suspicions,” said Lutsenko reporters on Wednesday.

“We really appreciate the results of operations of Kroll – certainly, they are important for banking, for national Bank and Privat… For us it was important refinements . If such facts they can give us, we certainly will act faster in our criminal proceedings,” – said the Prosecutor General.

Answering the journalists ‘ question about whether companies report information about participation in PrivatBank money laundering “Yanukovych’s team”, the attorney General said: “No, there’s no word”.

In General, commenting on the Kroll report, the attorney General said that on January 16, he studied the presentation of the investigation. “Sorry, no documents have been shown, because so far Kroll is waiting for permission to export to Ukraine of documents that are of personal data”- said the Prosecutor General.

He noted that the company did a great job.

According to the Prosecutor General, representatives of the company explained that the investigation was conducted “to assess the probable frauds banking terms banking regulations and were not focused on looking for evidence for criminal prosecution.

“From what I’ve seen, this possibility (criminal prosecution – if) exists. Ability first: did you use the refinancing funds for purposes not provided for by law…. Currently, Kroll could not give me an answer, whether there are such facts, but promised in the near future the answer to provide,” – said the Prosecutor General.

Lutsenko stressed, if it is established fact “that, say, million UAH instead of payment of dividends went to the lending companies associated with the owner, it will lead to a very rapid writing of the suspicion with the relevant officials.”

Speaking about the possible opening of criminal proceedings on the results of the Kroll audit, the attorney General said: “In the presentation it was stated that the money literally 10 minutes passed through hundreds of business entities in Ukraine and outside of it.. with signs of fictitiousness”.

However, according to him, the company has not indicated a list of companies with signs of fictitiousness. “If this is granted, we will be able to come closer to suspicion of actual entrepreneurship, tax evasion, probable difference of means”, – said Yuri Lutsenko.

As reported, according to the Memorandum of Ukraine with the International monetary Fund (IMF) under eff EFF until the end of September 2017 it was planned to complete forensic audit (economic investigation operations) PrivatBank to determine whether there was an offense or bad banking practice in the period prior to its nationalization at the end of last year.

For these purposes, and also for consulting services for the development, implementation and execution of the plan of measures on preparation for the nationalization of the PrivatBank and the search assets of the beneficial owners of the national Bank in February 2016, has hired a detective Agency Kroll, and July 2016, consulting firm AlixPartners. These companies worked with the national Bank the issues of coordination of legal defense and claims work.

Kroll on the results of the forensic audit PrivatBank confirmed that biocriteria to its nationalization has been the subject of massive and coordinated fraud that led to losses of at least $5.5 billion.

Kroll was founded in 1972, its headquarters is located in new York. The demand for its services among financial institutions has particularly increased after the financial crisis of 2007 and increased global regulatory oversight.

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