In the daughter Bank of Georgia revealed a fraud of UAH 300 million

В дочке Банка Грузии выявили махинации на 300 млн гривен

From the Bank illegally withdrew funds

Funds taken out of the Bank a month before the recognition of its insolvency.

The Fund of guaranteeing the deposits of individuals have discovered the way to eliminate UAH 300 million of BG Bank before the recognition of its insolvency. This was reported on the official website of the Fund.

As noted, less than a month before the recognition of the Bank insolvent with the help of diagrams of it was taken out of liquid assets amounting to almost 300 million UAH.

“All kinds of assets were held in one week”, — stated in the message.

One of the identified Fund facts manipulation – holding is loss-making transactions with securities included on the balance sheet of BG Bank.

In the first week of November 2014 the Bank was awarded the contract, the subject of which is the alienation of bonds of internal state loan.

So, 4699 government bonds with a nominal value of $4.7 million (equivalent on the date of the transaction was 60,87 million UAH), was sold for 8300 UAH. Thus, the sale price was more than 7000 times less than the nominal value of government bonds.

These securities were extremely unprofitable and caused the Bank damages in an amount not less 71,15 million.

We will remind, on November 28, 2014, the national Bank carried BG Bank insolvent.

Source

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