Ukraine’s largest lender PrivatBank investigated for diverting $1.8bn of IMF funds

PrivatBank, Ukraine’s largest lender partly owned by controversial oligarch Ihor Kolomoisky, is under criminal investigation by the authorities for fraudulently diverting around what was then about $1.8bn, the bank has confirmed.

“We are aware of the existence of criminal proceedings. PrivatBank fully cooperates with the investigators and provides all the information and documents necessary to establish the objective truth of the case,” a bank spokesperson told bne IntelliNews on August 20.

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