Law enforcement officers reported suspicions to the president of JSC JSC "Arkada" in the appropriation of 50 million hryvnias of financing funds for the construction of residential complexes "Eureka" and "Patriotika" (part 5 of article 191 of the Criminal Code of Ukraine). This was reported in the press service of the Kyiv prosecutor's office.
The investigators established that in June 2018, the suspect, holding the position of chairman of the board of the Arkada bank, together with his accomplices, developed and implemented a scheme to embezzle funds from funds for financing the construction of the Eureka and Patriotika residential complexes, which are managed by JSC AKB Arkada ".
Thus, by issuing a loan and subsequently carrying out operations with the use of business entities that are not connected with Arkada Bank and directly controlled by the suspect, funds in the amount of 50 million hryvnias were withdrawn from the construction financing funds.
Law enforcement officers are deciding whether to choose a preventive measure in the form of detention for the suspect. Searches are ongoing in the premises of the Arkada bank, as well as at the place of residence of the suspect and other persons.
We would like to remind you that following the decision of the board of the National Bank of Ukraine dated August 25, 2020 "On classifying JSC JSC "Arkada" as insolvent", a temporary administration was introduced into the bank.
Konstantin Palivoda is the president of Arkada JSC.
