Because of the fraud the estimated value of the assets included in the bankruptcy estate of Expobank, was more than 3.5 times less than the carrying value of UAH 1.1 bn and more than 3.8 billion UAH, respectively. This Deposit guarantee Fund of individuals (fgvfl) reports on the official website.
Withdrawal of funds to shell companies with foreign capital, crushing amounts of the deposits approximate to the owners of the Bank to individuals, the exclusion for the purpose of assignment of real property – this is not a complete list of schemes and manipulations with liquid assets that were used in Expobank on the eve of bankruptcy, says the DGF.
A few days before the introduction of the interim administration in the Bank (12 September 2014), was repaid in savings certificates in bearer form in USD with total amount equivalent 38,93 million. Certificates presented by individuals. Thus obtained funds after the conversion was partially crushed between the other depositors in the amount guaranteed not exceeding UAH 200 thousand. Similar facts breaking the DGF was established in respect of assets belonging to the former management of the Bank and close to them. in addition, the interim administration has discovered a new scheme in which again “lit up” by the Austrian Meinl Bank.
September 26, 2014, a day after the introduction of the provisional administration of the Bank, an Austrian financial institution has written off the funds placed on the correspondent account of Expobank, in the amounts of approximately $21.5 million and €13.6 million, the repayment of loan liabilities of non-resident companies. These funds, which accounted for 14.8% of the total assets of the Bank, at the time, was transferred to the enforcement of obligations on loans seven companies-non-residents. The purpose of the loan was the purchase of receivables in the Ukrainian Bank.
To date, none of the seven companies accounts receivable not purchased, specifies the DGF. In addition, during July – September 2014 officers of Expobank by abuse of his official position, was the alleged loan transaction, including with other banks. So, in one of the banks Expobank issued credit agreements totaling 131 million UAH, passing in the provision of several real estate objects in Kiev with a market value of almost 30% exceeded the amount of loans. The amount of the credit funds were withdrawn from the Bank, and the creditor sold the collateral to another person, which, in turn, promptly sought collateral in their favor.