A former member of the Khmelnytskyi Regional Council defrauded a state-owned bank out of 140 million hryvnias and fled abroad
A former member of the Khmelnytskyi Regional Council and owner of an agribusiness orchestrated a multimillion-dollar financial scheme, illegally embezzling funds from a state-owned bank through shell companies.
This was reported by Prosecutor General Ruslan Kravchenko on Facebook.
The agribusinessman and former deputy of the Khmelnytskyi Regional Council received a loan of nearly 80 million hryvnias from a state-owned bank for agricultural purposes. He actually used these funds to purchase 90 tractors. He diligently paid off the debt and appeared to be a reliable borrower. Next, having the equipment in his possession, he pledged it to the bank and received a second loan of 70 million hryvnias, ostensibly to replenish working capital. And to avoid arousing suspicion, he simultaneously secured a third loan through shell companies under his control that did not engage in any real business activity. This is how another 35 million hryvnias ended up in his hands. The three loans totaled approximately 185 million hryvnias. However, the man had no intention of repaying them. He sold the tractors used as collateral to third parties. Investigators managed to locate 46 of the 90 machines. They were sold, partially repaying the debt to the bank. As a result, the state bank’s losses amounted to 140 million hryvnias.
Meanwhile, in the Dnipropetrovsk region, investigators documented another crime involving the theft of agricultural products worth 11 million hryvnias. The suspect, together with his accomplices, gained the trust of local farmers through a shell company, ordered over 800 tons of rapeseed, made a small partial prepayment, and after receiving the entire harvest, exported it and blocked further payments. All illegal actions by the individuals involved in both criminal proceedings have been classified under articles regarding fraud and embezzlement on an especially large scale, and law enforcement continues to identify the full circle of accomplices involved.
In Bucha, law enforcement uncovered a cynical scheme to embezzle funds under the guise of housing construction.
According to the results for 2025, approximately 80% of online fraud cases in Ukraine involve schemes to manipulate customers, while only up to 20% consist of classic crimes involving unauthorized access to accounts—such as hacking or the physical theft of bank cards.
