Ibox Bank's assets have been released from seizure by court order: details of the ruling
The Holosiivskyi District Court of Kyiv has lifted the asset freezes on PJSC “AIBOX BANK.” The restrictions were lifted following the final closure of the criminal proceedings involving the bank’s former shareholders.
By a ruling dated May 29, 2026, the court lifted all restrictions that had previously frozen the financial institution’s assets. The court’s decision will allow the bank’s liquidator to fully dispose of the property, complete all liquidation procedures, and officially terminate the legal entity’s operations.
Why the court lifted the seizure of assets
The criminal proceedings in which the BEB and prosecutors from the Office of the Prosecutor General investigated the activities of the bank’s management (specifically A.V. Shevtsova, I.A. Tsyganok, and Z.V. Nesterovskaya under charges of illegal casino operations and money laundering) were closed by the court as early as July 29, 2025.
Although the case was closed, the issue of the bank’s seized assets was not resolved at that time. During the court hearing, the prosecutor objected to lifting the asset freezes, arguing that the decision would still be appealed in cassation. However, in the fall of 2025, the Kyiv Court of Appeals upheld the lower court’s decision.
After the case was closed, the need to seize the property completely disappeared.
Unblocking the Bank’s Liquidation
The National Bank of Ukraine revoked the license of JSC “IBOX BANK” and sent it into liquidation in March 2023. Under the Law “On the Deposit Guarantee System,” from the date the liquidation procedure begins, any public encumbrances or seizures on the bank’s assets become invalid, and the imposition of new ones is not permitted.
Previously imposed seizures in the criminal case prevented the liquidator from performing their direct duties—taking control of the institution’s property, forming the liquidation estate for settlements, organizing the financial and operational records, and transferring them to the NBU. These legal obstacles have now been completely removed.
Which specific assets were released from seizure
The court lifted the restrictions imposed in March 2023 by rulings of the Lychakiv District Court of Lviv. The list of assets released from seizure includes key contracts, financial documentation, and physical media of the bank that supported its relationships with counterparties (in particular, Paybox LLC and iBox LLC).
The court ruling has already entered into legal force, is final, and is subject to mandatory enforcement throughout Ukraine.
As a reminder, former director of the State Border Guard Service’s department Artem Chekhlov will stand trial for losses incurred by the shareholder of JSC Ibox Bank.
BEB wants to settle the case against the Chairman of the Board of JSC “IBOX BANK,” Melnik Petro Petrovich, and the bank’s Chief Accountant, Kin’kolykh Tetiana Mykolayivna, in court, and instead of 5 billion, pay only a fine of 60,000 UAH to the budget.
It is noteworthy that the controversial former Deputy Prosecutor General Dmytro Verbytskyi may have been behind the takeover of Aibox Bank. His likely role in the process is to provide a legal framework. While some financial institutions were being destroyed, the activities of others—where the funds were flowing—were simply overlooked by prosecutors.
It soon became clear that Verbytsky had illegally acquired wealth. On May 13, 2024, NABU opened criminal case No. 52024000000000231 under the article on illegal enrichment (Article 368-5 of the Criminal Code of Ukraine) following high-profile exposés by Radio Liberty and the Schemes program. However, the case remains in the pre-trial investigation stage with no preventive measures announced.
