Bankers helped to transfer the assets of Russian oligarchs abroad

The prosecutor’s office reported the suspicion of former heads of one of the largest banks in Ukraine.

Former Chairman and about. the heads of the board of a private bank in Ukraine reported suspicion. They were charged with willful non-resident income tax evasion in the total amount of UAH 18.3 million when paying royalties for 10 months to a Cypriot non-resident. This was announced on September 13 by the Office of the Attorney General.

The real beneficiary of the bank, which is one of the five largest in terms of equity capital, is a Russian oligarch. According to the investigation, a group of people controlling the activities of Cypriot companies and a private bank in Ukraine developed a plan in advance to take back the bank’s assets under the guise of paying royalties for on the use of trademarks.

These signs were previously owned by the parent bank in the Russian Federation, and in 2021 were re-registered for a non-resident Cypriot. This was done in order to apply preferential tax conditions and avoid double taxation.

So, while the trademarks belong to a private bank of the Russian Federation, the royalty rate is 13.4 thousand US dollars. During the three years of their use by a Ukrainian bank, 1.4 million hryvnias were paid to the owner of the royalty – a Russian bank.

After re-registering the rights to the same trademarks with a non-resident Cypriot, the amount of payment to the parent bank of the Russian Federation amounted to UAH 68.9 million, and the royalty rate for their use by a controlled bank in Ukraine was rise by more than 1,200 times – up to USD 16.4 million. In less than a year of using these marks by a private bank in Ukraine, more than UAH 248 million was paid to a non-resident Cypriot.

At the same time, the involved banks and the non-resident company are linked by the only beneficial owners who control their officers.

Efforts are underway to serve a notice of suspicion on two former executives of a private bank in Ukraine. The accounts of five Cypriot companies were arrested, with a total value of UAH 469.4 million, securities with a total of UAH 12.2 billion, corporate rights in the amount of more than UAH 53.4 million.

The pre-trial investigation in criminal proceedings of the fact of intentional tax evasion and legalization of property obtained by criminal means is carried out under the procedural guidance of the prosecutors of the Office of the Prosecutor General of BEBU detectives with immediate support from the DSR National Police of Ukraine with the participation of specialists from the State Financial Monitoring Service and the State Tax Service. Steps are being taken to identify and bring to justice all those involved in the commission of criminal offences.

Bankers helped to transfer the assets of Russian oligarchs abroad

The prosecutor’s office reported the suspicion of former heads of one of the largest banks in Ukraine.

Former Chairman and about. the heads of the board of a private bank in Ukraine reported suspicion. They were charged with willful non-resident income tax evasion in the total amount of UAH 18.3 million when paying royalties for 10 months to a Cypriot non-resident. This was announced on September 13 by the Office of the Attorney General.

The real beneficiary of the bank, which is one of the five largest in terms of equity capital, is a Russian oligarch. According to the investigation, a group of people controlling the activities of Cypriot companies and a private bank in Ukraine developed a plan in advance to take back the bank’s assets under the guise of paying royalties for on the use of trademarks.

These signs were previously owned by the parent bank in the Russian Federation, and in 2021 were re-registered for a non-resident Cypriot. This was done in order to apply preferential tax conditions and avoid double taxation.

So, while the trademarks belong to a private bank of the Russian Federation, the royalty rate is 13.4 thousand US dollars. During the three years of their use by a Ukrainian bank, 1.4 million hryvnias were paid to the owner of the royalty – a Russian bank.

After re-registering the rights to the same trademarks with a non-resident Cypriot, the amount of payment to the parent bank of the Russian Federation amounted to UAH 68.9 million, and the royalty rate for their use by a controlled bank in Ukraine was rise by more than 1,200 times – up to USD 16.4 million. In less than a year of using these marks by a private bank in Ukraine, more than UAH 248 million was paid to a non-resident Cypriot.

At the same time, the involved banks and the non-resident company are linked by the only beneficial owners who control their officers.

Efforts are underway to serve a notice of suspicion on two former executives of a private bank in Ukraine. The accounts of five Cypriot companies were arrested, with a total value of UAH 469.4 million, securities with a total of UAH 12.2 billion, corporate rights in the amount of more than UAH 53.4 million.

The pre-trial investigation in criminal proceedings of the fact of intentional tax evasion and legalization of property obtained by criminal means is carried out under the procedural guidance of the prosecutors of the Office of the Prosecutor General of BEBU detectives with immediate support from the DSR National Police of Ukraine with the participation of specialists from the State Financial Monitoring Service and the State Tax Service. Steps are being taken to identify and bring to justice all those involved in the commission of criminal offences.

Recall that earlier the Prosecutor General’s Office transferred to ARMA the assets of 19 Ukrainian companies controlled by the Russian Federation and its residents.

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