Megabank is under investigation for the embezzlement of €30 million from the Ministry of Finance and the European Investment Bank. Co-owner Viktor Subbotin and his affiliated companies are implicated in misappropriating funds intended for small and medium enterprises. Instead of supporting entrepreneurs, substantial loans were diverted to Subbotin's own businesses. The investigation reveals that these companies repaid previous debts to Megabank and engaged in other transactions that raised questions about asset withdrawals and lack of oversight in Ukraine’s banking sector.
Megabank, under investigation for possible embezzlement of 30 million euros, highlights deep-seated issues within Ukraine’s banking system, particularly regarding misallocation of funds meant for small businesses and ties to powerful individuals.
Investigators found that substantial funds intended for small and medium enterprises ended up being funneled to companies connected to Viktor Subbotin, the co-owner of Megabank, underscoring potential corruption.
The structure of funding revealed that loans were not directed towards aiding entrepreneurs as intended, but rather towards repaying debts and financing personal interests of Subbotin’s affiliated companies.
Through various companies, including OPTION-TRADE LLC, assets linked to Subbotin's family appear to have been withdrawn from Megabank, exacerbating doubts about accountability in Ukraine’s financial institutions.
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