The government has paid out more than Hr 80 billion ($3 billion) to Ukrainian customers with insured deposits in the nations 80 collapsed banks since 2014.
But little of that money, and as well another $5 billion in losses from uninsured deposits, has come from bank owners, managers and shareholders, who pocketed billions of dollars of Ukrainian deposits through insider loans and other embezzlement schemes.
The Deposit Guarantee Fund has filed more than 3,000 criminal reports to law enforcement agencies- 376 of them linked to owners and top managers of insolvent banks. However, this approach has yielded poor results. To date, there have been merely two convictions of bank owners or top management.
In comparison to th…
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