The State Bureau of Investigations investigates money laundering through government bonds operations

Все про економіку та фінанси

In accordance with the resolution of the Pechersk District Court of Kyiv dated July 24, the State Bureau of Investigation within the framework of criminal proceedings № 62019000000000464 established that "the persons authorized to perform the functions of the state, local authorities, in the period of 2016-2019 by prior agreement with officials of stock market participants, including securities traders PrJSC Maister Brok, LLC FC Fineks-Ukraina, LLC FC Daliz-finans, LLC IFK ART Capital, LLC Navigator-Invest, LLC Univer Kapital, LLC Capital Times, LLC I-NVEST, LLC MevazorInvest, LLC Signifer, LLC BTS Broker, LLC Dominanta Trade, LLC FC Profinance, LLC IB Capital, their customers, including LLC Premium Trading Group, LLC Badren, LLC Marfin Liuks, LLC Solvent Capital, with the assistance of officials of PFTS Ukraine Stock Exchange and The Ukrainian Exchange, performed actions with signs of manipulation on the stock exchange, established in accordance with the law on state regulation of the securities market, namely the operations on bonds of the internal state loan, which led to the receipt by individuals of significant amounts of profit and caused significant damage to the rights protected by law, freedoms and state interests" (quote).

Below is again a quote from the court order:

"The criminal scheme is usually as follows: the securities trader (broker) No. 1 on behalf of the legal entity buys bonds of the internal state loan from the bank and resells them at a lower price, but within the limits of market fluctuations, to the broker No. 2, who acts on behalf of the individual. Later on, the broker No.1, who acts on behalf of the legal entity, repurchases this package of bonds back, but at a higher price. And again, he sells the bonds to broker number 2, also at a price lower than the previous purchase. At the end of the chain, the broker no. 2, who acts on behalf of the individual, sells this package of domestic government bonds to the bank at the market price. The scheme may also involve joint investment institutions (investment funds).

As a result of such actions, an individual receives investment income on a regular basis and a legal entity receives an investment loss.

These transactions with Domestic government bonds were imaginary and correspond to the definition of manipulation provided by Article 101 of the Law of Ukraine "On State Regulation of Securities Market in Ukraine" and aimed at legalization of income without paying personal income tax.

The criminal scheme was set up on the basis of PFTS Ukraine Stock Exchange and The Ukrainian Exchange. During the above period of time, officials of the PrJSC Maister Brok, LLC FC Fineks-Ukraina, LLC FC Daliz-finans, LLC IFK ART Capital, LLC Navigator-Invest, LLC Univer Kapital, LLC Capital Times, LLC I-NVEST, LLC MevazorInvest, LLC Signifer, LLC BTS Broker, LLC Dominanta Trade, LLC FC Profinance, LLC IB Capital, LLC Premium Trading Group, LLC Badren, LLC Marfin Liuks, LLC Solvent Capital, and other securities dealers and their clients entered into agreements for the purchase and sale of government internal loan bonds in banking institutions, without the objective of creating legal consequences and without the intent to make a profit.

In this criminal proceeding, the resolutions of the Pechersk District Court of Kyiv revealed the banking secrecy of securities traders of PrJSC Maister Brok, LLC I-NVEST, LLC FC Daliz-finans and others. On the results of the analysis of bank statements the scheme of withdrawal of funds to bank accounts of individuals and their withdrawal through the cash desk in the JSC RWS BANK institution was established.

According to the materials of criminal proceedings and bank statements of PrJSC Maister Brok, LLC I-NVEST, and LLC FC Daliz-finans securities dealers, it was established that the said companies transferred funds to the bank accounts of a number of individuals, and has been further withdrawn through the cash desk in the banking institution of JSC RWS BANK in the total amount of more than UAH 264 million".