Bank "Concord" was illegally engaged in cash-out operations

Bank "Concord" was illegally engaged in cash-out operations

The General Prosecutor’s Office of Ukraine has succeeded in its request for the arrest of property in criminal proceedings 32017100090000062 on the grounds of crimes provided for in Part 1, Article 212, and Part 2, Article 205 of the Criminal Code of Ukraine. The decision was made by the Pechersk District Court of Kyiv, reports Oleksandr Dubinskyi.

According to the report, law enforcement obtained information about the activity of an illegal financial mechanism in the Kyiv region, whose participants were involved in implementing an illegal financial scheme based on the bank "Concord," aimed at the illegal conversion of non-cash funds into cash, reducing the tax burden on enterprises, and embezzlement of state/budget funds.

"In particular, in order to implement their intentions, the figures in the case registered commercial structures in the names of nominal persons, opened accounts for them in the bank ’Concord,’ and established the transfer of non-cash funds to these accounts from enterprises, including those with state ownership share.

Subsequently, with the assistance of employees of this banking institution, the funds are converted into cash and misappropriated," the court’s decision states.

The Pechersk District Court of Kyiv satisfied the prosecutor’s request regarding the criminal investigation by the State Bureau of Investigations for the seizure of funds and securities held in accounts at the bank "Concord" on May 31 of this year.