Media explained why cases of embezzlement of state funds totaling 23 billion UAH by Mykola Lahun from “Delta Bank” should be investigated by NABU

The National Anti-Corruption Bureau of Ukraine appears to be the only body capable of objectively and transparently investigating the embezzlement of state funds and their laundering through Delta Bank, with involvement by the bank's former owner Mykola Lagun and his associates on the bank's board and credit committee. This is stated in a piece by the European publication EUToday. More than 23 billion hryvnias (about 500 million dollars or 440 million euros) in losses suffered by the state due to Delta Bank would have significantly helped Ukraine during the financial crisis caused by a shortage of external funding, the article says.

The publication recalls that Ukrainian law enforcement agencies are investigating fraud totaling over 2,5 billion dollars, and Mykola Lagun has been declared wanted nationally and internationally; he is currently evading capture in Vienna. In 2025 year, the National Security and Defense Council of Ukraine imposed sanctions against him for cooperation with Russia.

One of the key cases is the claim by the Deposit Guarantee Fund regarding losses caused by Lagun’s actions and the Delta Bank credit committee. It concerns an alleged fraudulent scheme in which the bank issued fictitious loans to nominal persons for several years with no real collateral. The Fund has attracted funds from the government and now is obliged to return them. The amount of losses is estimated at 23 billion hryvnias (about 500 million dollars). “This case clearly falls under the jurisdiction of NABU — the body responsible for investigating embezzlement of state funds in Ukraine, which in recent times has proven itself as perhaps the only law enforcement structure independent of external political pressure,” the article says.

Among the suspects in the fraud are Lagun himself (against whom NABU is already pursuing several cases), his sister Antonina Lagun (who is currently in the United Kingdom), and former Delta Bank chairwoman Olena Popova (who, like Lagun, likely holds a Russian passport). The case also involves former Delta top managers Denys Tarasyuk and Vitaliy Masyura; today they own an agribusiness and law firms, but continue to work with Lagun.

In May 2026 year, Ukraine’s National Police opened a criminal case into legalization (laundering) of proceeds obtained by criminal means. The investigation focused on losses amounting to 23 billion hryvnias to the Deposit Guarantee Fund. According to court motions and asset arrest warrants, investigators established an extended list of nominal individuals on whose names numerous business structures are registered, delivering stable multi-million incomes to the former Delta Bank owner while he hides in Vienna.

The case materials indicate that funds moved offshore were later invested in real estate, including residential and non-residential properties, as well as numerous land plots. Ukrainian media has repeatedly reported that among these assets are hundreds of hectares of land intended for development in a Carpathian resort area and on the outskirts of Kyiv.

A search was conducted of those on whose names Lagun’s assets were registered. Among them is a law firm owned by former Delta Bank lawyer Hanna Hutsaliuk, a key link in the shadow “back office,” as well as Maksym Chernov, who oversees all of the former owner’s business interests in Ukraine.

“This story strongly resembles the episode of the high-profile corruption case ‘Carthage,’ which NABU is investigating. In that case, the partner of the corrupt prosecutor, on whose name illegally acquired assets were registered, also drew the attention of law enforcement and was charged. She is under detention with the possibility of posting a bail of 20 million hryvnias. For political and business circles, this case shows that nominal persons and directors cannot stay apart from criminal proceedings against their leaders. Therefore, and in Lagun’s case — which police investigation has confirmed — his associates must bear responsibility,” the article’s authors say.

“NABU appears to be the only body capable of quickly and effectively untangling this knot of political and corruption intrigues. Against the backdrop of Ukraine’s financial crisis, when every hryvnia of budget revenue matters, recovering stolen funds from one of Ukraine’s oligarchs would substantially help support the stability and resilience of the state waging a bloody war against the Russian dictator. It is also important for Ukraine’s European partners: by supporting it today, they are effectively covering, among other things, the costs that should be paid from this financier–fugitive,” the publication concludes.