Ex-MP and Beneficiary of Finance & Credit Bank Served with Notice of Suspicion in France Over UAH 500M Embezzlement Case

In Paris, as part of an international legal assistance request, French authorities—together with Ukrainian prosecutors and investigators from the State Bureau of Investigation (SBI)—have formally served a notice of suspicion to a former Member of Parliament of Ukraine, who is also the beneficiary owner of the now-liquidated Finance & Credit Bank.

According to the investigation, the suspect is accused of establishing and leading a criminal organization, large-scale embezzlement, and money laundering of illicit proceeds. Following the notification, he was questioned in the capacity of a suspect.

Investigators state that the former MP, who effectively controlled more than 96% of the bank’s authorized capital, created and led a structured criminal network composed of top bank officials. The organization allegedly operated a systematic scheme to siphon funds from the bank through a network of affiliated companies and foreign financial institutions.

The scheme reportedly involved fictitious loan and guarantee agreements, which enabled the illegal transfer and subsequent legalization of funds abroad. According to law enforcement, the misappropriated assets included not only the bank’s own resources but also depositors’ funds and refinancing provided by the National Bank of Ukraine, all used in the private interests of the beneficiary.

The total amount of confirmed damages exceeds UAH 519 million.