In accordance with the act of Kyiv’s Pechersky district court dated 12.06.2019, Prosecutor General’s Office conducts procedural management by the pretrial investigation in criminal proceeding No. 42019000000000775, in terms of which it was established that the remittance of funds was carried out from the account of Construction Financing Fund Evryka (according to program of LLC Arkada-Budivnytstvo) to the account of Construction Financing Fund Patriotyka (according to program of developer LLC Budevolyutsiya for the purpose of their subsequent assignment (quote) by the officials of PJSC AKB Arkada under the direction of the bank’s owner in violation of provision of law of Ukraine “On funding and financing mechanisms and property management during housing construction and real property business“ and rules of Construction Financing Fund.
“According to the rules of Construction Financing Fund, these funds should be directed exclusively to financing the construction of housing for principals.
In the future, these funds contrary to the legal requirements and terms of agreement for participation in Construction Financing Fund Patriotyka, are sent: UAH 109,8 million - on the acquisition of corporate rights of LLC Kontaktbudservis; UAH 51 million – on debt obligations (bills) of LLC Consulting Bureau NTT; UAH 166,4 million – on the shares of PJSC ZNVKIF ProfitProject Investment».
In addition it was established that these actions are carried out by the owner and officials of the bank for the withdrawal of funds from individual entrepreneurs and legal entities – participants of Construction Financing Fund using the accounts of the business entities controlled by them” – is said in court materials.
As noted in the court decree “currently, in order to avoid obtaining the status of a specialized bank (this will make it impossible to attract deposits in the amount more than 5% of the bank’s capital), contrary to the requirements of the laws and regulations of NBU, bank officials artificially lower the actual volume of transaction of trust management by accounting funds of Construction Financing Fund on other business accounts (quote).
“This indicates the implementation by officials of PJSC AKB Arkada of an illegal mechanism, aimed at assignment of funds of individual entrepreneurs and legal entities – participants of Construction Financing Fund for a total amount of more than UAH 330 million” – is summarized in court materials.
According to NBU, as of 04.03.2019 the largest stock of shares of Arkada bank was controlled by Kostiantyn Palyvoda. Eriks Vanagels was listed as the owner of 6,9% of shares of the financial institution. Another 6,8% of shares are owned by Khrystakys Konnarys and Panykos Symeou.