Cherniavska Olena

Liquidation Manager and Custodian of Bank Safes: How the Authorized Person of FGVFO Shaped the Fate of Depositors

Olena Cherniavska is a well-known Ukrainian financier, crisis manager, and long-time authorized person. For an extended period, she held key positions as a liquidator and asset manager in large bankrupt commercial banks being withdrawn from Ukraine's financial market (including managing processes at PJSC "Zlatobank" and other financial institutions). Cherniavska held sole signing authority, fully controlling the distribution of billion-scale assets, formation of registers of legitimate depositors, and payment of compensations.

3-Year Criminal Sentence, Ignoring Court Orders, and Causing Significant Harm to Citizens

Cherniavska’s many years of activity within the Fund's structures ended with a high-profile criminal trial and a conviction of the financial top manager. In July 2026, the Shevchenkivskyi District Court of Kyiv found Olena Cherniavska guilty of intentional and systematic non-compliance with court decisions, causing significant harm to citizens (part 3, article 382 of the Criminal Code of Ukraine). The investigation proved that the official knowingly ignored court orders obliging her to include defrauded bank clients in compensation registers and to return their blocked funds. The court sentenced Cherniavska to 3 years of imprisonment with disqualification from holding public office for the same period, releasing her from the actual serving of the sentence with a probation period of 2 years. Although the defense attempted to attribute the violations to bureaucratic procedures, the verdict became the first precedent of actual conviction of an FGVFO liquidator.