The story of how nearly 19 million euros could have "leaked" from a state bank increasingly resembles a detective plot from a series. The main characters: members of the credit committee of "Ukrgasbank," a company registered under relatives of the former governor of Volyn, and a scheme involving letters of credit.
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SubscribeIt all began back in December 2020, when the bank entered into a loan agreement with the Ukrainian company "NextTrade" for 25 million hryvnias. Seemingly a routine transaction, but everything unfolded in an unusual manner, writes Focus, referencing Apostroph.
In 2023, "NextTrade" requested the opening of a letter of credit for 30 million euros to pay the Slovak firm NextTradeEurope s.r.o. for gas supplies. The letter of credit was opened, the funds were disbursed, but no gas was ever delivered. Now the bank is calculating its losses: the company owes 18.8 million euros.
A letter of credit is a payment method where funds are reserved for a transaction and only released upon fulfillment of obligations. However, "NextTrade" and NextTradeEurope turned out to be "related." According to journalists, both companies are connected to the family of former Volyn governor Oleksandr Bashkalenko – a loyal associate of Yanukovych.
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What about the bank
There are more questions than answers regarding the credit committee of "Ukrgasbank." How could experienced bankers overlook such obvious risks?
Hennadiy Khelemyskyi and Nataliya Vasylets reportedly played key roles in the committee. Khelemyskyi is considered to be "the man" of Kyrill Shevchenko, the former chairman of the NBU and ex-head of "Ukrgasbank," who is currently suspected of embezzlement and is hiding in Austria. Vasylets, sources claim, closely worked with Shevchenko since the days of the "Finance and Credit" bank.
What’s next
Currently, "NextTrade" has already lost access to its accounts – they have been frozen. But this is a temporary measure. The police and NABU are investigating whether this was a simple oversight or a deliberate conspiracy. A lawsuit against the Slovak firm is likely as well.
While the investigation continues, the question remains: how deeply has this scheme penetrated other government structures? Such "blunders" cost not only money but also trust in the system.