Photo from UNIAN The Verkhovna Rada on Tuesday adopted as a basis and in general the bill, submitted by President Poroshenko to protect the victims of fraud in Mykhailivsky Bank. 285 votes were cast to support the draft law No.5390 "On amendments to certain laws of Ukraine regarding the compensation to individuals through the individual deposits guarantee system for damage inflicted by abuse in the field of banking and other financial services" with the required minimum of 226 votes. Read alsoTwo rallies under way downtown Kyiv, traffic blocked (Photos)Earlier, while presenting the bill to the committee members, President’s envoy in the Verkhovna Rada of Ukraine Artur Herasimov said that as a result of criminal schemes, some 14,000 depositors of Mykhailivsky Bank were affected. The approximate amount of damage is estimated at UAH 1.5 billion. "The bank failed to provide information to its depositors that the funds raised are not covered by the guarantee fund," he said. Gerasimov noted that the Guarantee Fund would consider each application of the bank’s depositors separately and that no later than 20 days after the law enters into force, the Fund will start paying back the depositors’ money. According to him, the bill will prevent such schemes in the future. The bill was also supported by the representatives of the Individual Deposit Guarantee Fund and the National Bank of Ukraine, present at the committee meeting. Read alsoKyiv district court arrests Gulliver mall – PGOAs the NBU said on its website, Mykhailivsky was designated as a problem bank on December 23, 2015, due to risky deals; since that time, the regulator had been working with the bank&#39;s shareholder and management to settle the situation. According to NBU data, on May 20, when the bank’s Chairman of the Board Ihor Doroshenko left the post, the bank used the guise of a technical failure to hold a number of suspicious transactions on transfer of individual deposits, increasing the burden on the Guarantee Fund by UAH 1 billion - up to UAH 2.6 billion. Read alsoOne more suspect detained for fraud at Bank MykhailivskyIn August, the National Police handed over suspicion notices to and arrested former head of the bank Ihor Doroshenko, who is suspected of misappropriating UAH 870 million of funds and bringing the bank to insolvency. He faces from seven to 12 years in prison with confiscation of property.