Krolls’ audit PrivatBank has been passed along to the Ukrainian government and now the fun begins. Ukraine’s central bank said the investigation showed that that the bank had been “subjected to a large-scale and coordinated fraud” over at least a decade.
The fraud resulted in the bank, which was taken into state control in 2016, suffered a loss of at least $5.5-billion, the central bank said in a statement on Jan. 16. Central bank deputy governor Kateryna Rozhkova said that the findings have been passed to the Prosecutor-General’s Office for use in a possible criminal investigation into the deals made before PrivatBank was nationalized.
However, one of the bank’s former main shareholders, Ihor Kolomoyskiy, dismissed the results of the probe as “nonsense.”