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"So far, Mr Kaskiv is not going for such an offer. We initially suggested that he conclude an agreement. But he refused, and believes that he has nothing to tell the investigation. Therefore he is the only defendant in the case and will be held personally responsible for embezzling funds worth UAH 7.5 million," Lutsenko said.

According to the prosecutor general, Kaskiv will have the opportunity to see a lighter verdict if he testifies against the "higher member of the criminal group."

Read alsoExtradited Kaskiv released on $6,000 bail from courtroom – PGO"Of course, during the trial he can exercise his right and point at a higher member of the criminal group. Then he may get some relief, to be approved by the court," said Lutsenko.

As UNIAN reported earlier on Wednesday, former head of the State Agency for Investment and National Projects Vladyslav Kaskiv, who is accused of embezzling state funds, has been extradited to Ukraine from Panama.

Later the same day, he has been released on a $6,000 bail from the courtroom in Kyiv, according to Ukrainian Prosecutor General Yuriy Lutsenko's press secretary Larysa Sargan.

Read alsoEx-head of investment agency Kaskiv extradited from Panama to UkraineKaskiv had been detained by Panama's law enforcement agencies in August 2016 at the request of the Ukrainian authorities seeking his extradition. But he was shortly released on $600,000 bail and stayed in Panama until his extradition. He was extradited to Ukraine on November 1, 2017.

Kaskiv is being charged with embezzlement of budget funds in 2012 to the tune of UAH 7.5 million, which was about US$1 million at that period's forex rate but is US$280 million at the current forex rate.

Ukrainian Interior Minister Arsen Avakov claims Kaskiv siphoned UAH 255 million, or US$9.5 million at the current forex rate, from Ukraine.