Oschadbank: Money seized from Yanukovych stored in State Treasury account

Oschadbank announced this in connection with media reports about raids conducted by the National Anti-corruption Bureau of Ukraine (NABU) on the bank's offices as part of a case related to the confiscation of $1.5 billion from Yanukovych and his allies.

"All the funds seized through special confiscation are stored in State Treasury accounts. Any accusations of 'illegal writing-off' are groundless. Oschadbank was acting strictly and absolutely in accordance with the current law," it said.

Read alsoOschadbank to receive EIB guarantee of EUR 50 mln for lending small, medium-sized businessesThe bank says that under the law of Ukraine, a court verdict is binding and subject to unconditional execution throughout Ukraine, and special confiscation is the return of assets to state ownership, which has been done.

"Information on the transfer of the funds to the accounts of the State Treasury has been confirmed. The relevant documents are at the disposal of all state agencies concerned and posted on the website of the General Prosecutor's Office of Ukraine," Oschadbank said.

The bank says that accusations against its management are groundless and assures it is ready to cooperate with the investigation and provide all necessary documents for legal confirmation of its actions.

The bank also called on the leaders of the state, its shareholder represented by the Cabinet of Ministers, the heads of the Prosecutor General's Office and the Specialized Anti-corruption Prosecutor's Office to see that the situation when the state bank that transfers funds to the budget under a court ruling becomes an object of persecution by the state is absurd.

"Such groundless accusations, lengthy investigative actions and speculations on this topic in the media cause significant damage to the business reputation of both the state bank and the system of public administration in general," the bank said.

As UNIAN reported, Secretary of the National Security and Defense Council Oleksandr Turchynov and Prosecutor General Yuriy Lutsenko announced on April 28 that a court ruling authorizing the transfer of $1.5 billion seized from the accounts of Yanukovych and his entourage to the national budget had become effective.

The Financial Monitoring Service of Ukraine identified 42 non-resident companies affiliated with Yanukovych and froze $1.5 billion in accounts of 19 of the companies in June 2014.