29 November 2016, Tuesday, 12:48 103

Court Arrests Two Office Buildings In Kyiv Within Case On Embezzlement Of Fidobank's Assets

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A court has warranted arrest of two office buildings in Kyiv downtown in the case on embezzlement of assets of Fidobank undergoing liquidation.

The press service of the Kyiv prosecutor's office announced this in a statement, Ukrainian News Agency reports.

The statement reads that the court warranted arrest of two office buildings (close to 6,000 square meters) on Velyka Vasylkivska Street following a motion from the Kyiv prosecutor's office.

The investigation has established that officers of Fidobank sold the assets to a commercial entity for UAH 170 million in 2015. However, the investigation has also established that the purchase of the real estate property was made through a chain of bogus companies for funds of the bank.

At present the real estate facilities have been declared physical evidence in the criminal case and the real estate facilities have been arrested to provide compensation for damage caused to victims of the scheme.

The pre-trial investigation continues.

As Ukrainian News Agency earlier reported, the National Police of Ukraine said they suspected Fidobank's officials of embezzlement of UAH 1.9 billion.

Fidobank was declared insolvent on May 20, 2016.

The provisional administration in the financial institution was extended until July 19.

The National Bank of Ukraine decided to liquidate Fidobank on July 18.