The Pecherskyi District Court of Kyiv has arrested property of the Nikopol Ferroalloy Plant, major producers of ferroalloy in Ukraine (NFP), the Marhanets Mining and Processing Works (GOK), the Ordzhonikidze Mining and Processing Works (GOK, Pokrov) and the DniproAzot ammonium fertilizer producer (Kamianske), all four are in Dnipropetrovsk region, in relation to an investigation under a PrivatBank embezzlement case.
The court took the respective ruling on September 14, Ukrainian News Agency reports.
In particular, the Prosecutor General's Office of Ukraine (PGO) has been investigating embezzlement on large scale by former officials of PrivatBank from the funds worth UAH 19 billion provided to PrivatBank from the National Bank of Ukraine.
The investigation suspects PrivatBank officials of insider lending in the amount ranging between USD 18 to 73 million to companies associated with them.
The companies invested the borrowed funds in suspicious-looking agreements with 100% prepayment.
The goods under the agreements were never delivered, and the money never came back.
Thus, PrivatBank officials are guilty of at least not procuring for establishing good security against possible losses under the loan agreements
The court decided to arrest a number of locomotives, rail cars, wagons, tanks and other objects, in particular, 189 objects of the NFP, 683 objects of the DniproAzot, 246 objects of the Marhanets GOK and 177 objects of the Ordzhonikidze GOK.
As Ukrainian News Agency earlier reported, on September 4, the Pecherskyi District Court of Kyiv arrested the Biola soft-drinks plant (Dnipro), a building rented out by the 1+1 television company and a Boeing jet under an embezzlement case involving PrivatBank.
In early July 2017, Prosecutor General Yurii Lutsenko stated there were pending questions to former leadership of PrivatBank and representatives of the National Bank about illegal disbursement of loans (insider loans) in December 2016.
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