Stealing in a New Manner

The story of how do ‘state’ managers rip the PrivatBank off.

In my news feed all of the prominent specialists comment on the facts that had happened to the PrivatBank before its nationalization. And almost nobody is interested in the current situation with the bank. And that's a real shame because here and now the depositors’ money is actually being stolen.

I have doubt that you know the name of Oleh Serheyev. But he holds a post as Deputy Chairman of the PrivatBank Board in own person, and is responsible for corporate customers and SME accounts care, management of the program “CUB” for micro-banking of entrepreneurs and he also supervises the cooperation with distributor networks.

Before Mr. Serheyev joined the PrivatBank, he had been working as Executive Manager of the Western Commercial Macro Region of the Ukrsotsbank. Till then he had managed the Western Regional Office of the PrivatBank.

However, Mr. Serheyev doesn’t indicate anywhere that he ‘left’ the Western Regional Office of the PrivatBank because of unrecoverable loans granting. And during the nationalization of the PrivatBank his old friend Shlapak ‘pulled’ him back to the PrivatBank.

And despite the fact that on the 24th of July 2017 Shlapak left the position of PrivatBank Board Chairman, Mr. Serheyev feels all right there even without him.

As an example hereto, let me tell you a story of how the company Mix Ltd. (code 30949057) locatedin Kryvyi Rih and dealing with agricultural activities was granted a credit.

On the 26th of September 2017 this limited liability company got a credit in the amount of 5.5mln UAH at annual interest of 19% from the PrivatBank. The security for this credit was 1985 tons of sunflower seeds.

The repayment schedule presupposed the following payments:

– the principal of the credit in the sum of 1 100 000 UAH should have been repaid till December 31, 2017;

– the sum of 1 650 000 UAH should have been repaid till January 31, 2018;

– the credit balance in the sum of 2 750 000 UAH should have been repaid till February 28, 2018.

And sure + 19 % of annual interest.

The decision to grant the credit was made based on the decisions of the Head Office Credit Committee (KD 7946079, KD 8080983). The decisions indicate that the company didn’t violate any law or breach any internal regulations of the bank and, as confirmed by the expert review of the documents, the documents of the credited party was quite legal. That statement was suggested by the conclusions of the security service and legal department of the bank.

The credit analysts department denoted existence of 5 920 ha of land under cultivation.

In consequence, Mix Ltd. has done only 2 credit payments for the year 2017:

– on the 28th of October 2017 to the amount of 75 581,23 UAH;

– on the 28th of November 2017 to the amount of 48 718,79 UAH;

Since the 10th of January 2018 the first payment of the credit principal in the sum of 1 100 000 UAH has fallen into arrears.

Such a situation appeared since the credit organized by Oleh Serheyev had initially been planned as unrecoverable.

The originally indicated replenishment of 107share cards (share payments) turned out to be faked. Since January 2017 no report has been presented to the Departments of Agriculture and Statistics.

The originally indicated availability of vehicles as fixed assets turned out to be faked as well. Not a single report regarding the number of registered vehicles has been presented to the State Technical Supervision Body (‘Derzhtekhnahlyad’).

The double warehouse certificate to seeds as of May 23, 2017 Nr.110031АБ turned out to be faked too. The online inspection of this document’s legality hasn’t been conducted per the website of the Ministry of Agrarian Policy. So, it means that such a certificate didn’t exist at all.

The debt recovery firm of the PrivatBank has found out that no activities are being carried out at the actual address of Mix Ltd. (village Shyroke, Zootekhnichna Street 7, Kryvyi Rih district), and that storage facilities are entirely empty. Since 2004 the premises have belonged to the private individual – R. L. Nikolyuk.

The conclusions of the security service made in the process of credit granting (request Nr.20914 as of April 19, 2018) and at the moment of the fraud discovery (February 20, 2018) are completely different. In the latter case the conclusion was entirely negative and had the information that, according to the extract from the state register of impairment of movable property (Nr. 52098228), the whole movable property of the client Mix Ltd. was arrested.

It was also detected that Mix Ltd. had no account activities at Pravex Bank over a period from December 2016 till June 2017. And already in July 2017 (certificate Nr. 785 as of August 7, 2017) the turnover made up 5.1mln UAH per month. As it turned out, those certificates were counterfeit (as determined by the security service in the course of personal communication with the director of Mix Ltd. Viktor Khudakovskyi and his guarantee by name O. V.Reznichenko ).

Although, when the certificate was presented for the first time one could realize that a single-time turnover of up to 5 million UAH out of 5 ha of land couldn’t just be possible.

A rather interesting contractor of Mix. Ltd. called Kryvbastara Ltd has been also discovered. In fact, Kryvbastara Ltd was declared bankrupt in 2009. The company was dissolved in February 1, 2013.

A complete set of this evidence brilliantly demonstrates how 5 million UAH have been stolen from the PrivatBank under the tactful guidance of Oleh Serheyev.

alex's picture
Александр Дубинский

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