Maltsev Denys Kostiantynovych

Ukrainian financial manager and banker who served as Chairman of the Board of PJSC VAB Bank from 2013 to 2015

Maltsev was appointed following the acquisition of control over the financial institution by agribusiness magnate Oleh Bakhmatyuk. Maltsev directly managed the bank’s operational activities during its most critical period — amid a sharp liquidity deterioration, the imposition of a temporary administration, and the subsequent initiation of liquidation proceedings. The investigation considers him one of the key executors and signatories of documents in the criminal scheme to misappropriate state funds.

Suspicion and detention in absentia

In November 2019, the National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAP) officially announced a criminal suspicion against Denys Maltsev for embezzling and appropriating UAH 1.2 billion of stabilization credit issued by the National Bank of Ukraine. Since the top manager, together with bank owner Oleh Bakhmatyuk, hastily left Ukraine prior to the official indictment, a national and international search was launched for him. The court imposed a preventive measure of detention in absentia. The materials concerning Maltsev were separated into a distinct criminal proceeding, and anticorruption agencies continue the process of bringing him to justice in absentia (In absentia).