The VAB Bank Case

Detectives of the Specialized Anti-Corruption Prosecutor's Office suspect 8 people of misappropriating a bank loan of 1.2 billion hryvnias. They allegedly appropriated the money of the stabilization loan that the National Bank provided to VAB Bank for refinancing.

According to the investigation, in October 2014 VAB Bank asked the NBU to grant it a stabilization loan secured by real estate. The National Bank agreed, despite the fact that the bank did not provide all the necessary documents. The prosecutor's office believes that the value of the real estate that VAB Bank gave the National Bank as collateral was inflated almost 25 times. A month later, the bank was declared insolvent and later liquidated.