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Now that the bank crisis has possibly subsided, Ukraine's government is now looking into embezzlement of NBU money that was supposed to be used for refinancing banks. Rodovid Bank is at the center of a 2 billion hryvnia scheme, reports the Kyiv Post. The scheme involved several dummy companies using the same plot of land as collateral in order to get access to bank credit.
As he put it, a limited-liability company in November 2007 secured a credit line at the bank with a 113-hectare land plot in Ozerna Street in Kyiv put up as collateral. Fifteen more companies received loans worth UAH 1.750 billion on security of the same plot of land.
Lutsenko said that in 2008 the same land was transferred to Kyiv-based Clearing House Bank for mortgage. After which, the minister said, it was put up as collateral for getting NBU refinancing worth UAH 1.260 billion.
Later on, he said, all the limited-liability companies, which received loans from Rodovid Bank, went bankrupt. Checks being held by the Interior Ministry have revealed that most of the companies were bogus ones.
The Interior Minister suggests that all the funds illegally obtained at the above-mentioned banks could be used by one of the candidates running for presidency at the 2010 election.
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