Kolomoisky refused to explain to Radio Liberty where 110 billion hryvnia went from Privatbank

The former main shareholder of Privatbank, Igor Kolomoisky, commented on the investigation, which alleged that shortly before nationalization, 110 billion hryvnia were withdrawn from the bank to the accounts of more than 30 companies, most of which have signs of fictitiousness.

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In a commentary for the TSN news service of the 1+1 TV channel he owns, he explained that the money was actually withdrawn from the bank, and with these funds the loans of previous borrowers were repaid.

“As part of the restructuring of the loan portfolio, they were issued to companies that had repaid loans from previous borrowers. That is, the money remained in the bank,” the oligarch noted.

Having analyzed the list of debtor companies, each of which now owes the state-owned PrivatBank from half a million to almost five billion hryvnia, journalists discovered that these legal entities do not conduct real business activities, have an average of no more than 1000 hryvnia in their authorized capital, and their founders and directors are people who have nothing to do with business.

At the same time, former shareholders of the bank, Igor Kolomoisky and Gennady Bogolyubov, refused to comment on the withdrawal of funds to journalists from the “Schemes” program broadcast on Radio Liberty.

As a reminder, some curious information has surfaced in Ukrainian media. On the eve of nationalization, PrivatBank issued 110 billion hryvnias in loans to more than 30 companies, most of which bear signs of being fictitious. This is the conclusion reached by journalists from the program "Schemes" after gaining access to and analyzing the audit report on the bank's financial and economic activities prepared by the audit firm Ernst & Young.

According to the document, auditors checked the largest borrowers and found: as of April 1, 2015, the risk of non-repayment of loans was measured in the amount of more than 82 billion hryvnia, and as of October 1, 2016, the figure increased to 139 billion hryvnia.