Delta Bank

The largest bankruptcy in Ukraine's history — 54 billion UAH in debts and 10 billion in NBU refinancing

The fourth largest bank in Ukraine by assets as of January 1, 2015 — total assets of 60.3 billion UAH, over 200 branches, 2.6 million payment cards. Owner and beneficiary — Mykola Lagun. On March 2, 2015, the National Bank of Ukraine (NBU) declared the bank insolvent; on October 5, it revoked the license and liquidated the bank. The official reason — "failure of the owner to take timely and effective measures." During 2014, the bank received refinancing from the NBU amounting to 10 billion UAH — in three tranches under the leadership of different heads of the NBU. After the temporary administration was introduced, an incredible fraud emerged: the refinancing funds were not retained within the bank.

4.1 billion UAH of misappropriated refinancing funds

Criminal proceeding No. 12014100000000703: Lagun, through affiliated persons, embezzled 4.1 billion UAH out of the 10 billion UAH refinancing from the NBU. Criminal proceeding No. 12022000000000908: withdrawal of $76.5 million via a non-resident company in February 2015 — shortly before bankruptcy. In 2017, the former chairman of the board Popova was suspected by the Prosecutor General's Office within the first proceeding; the court froze her assets. Among the affiliated structures in the proceedings is LLC "Agronovokom" ("Marilkomfrukt"), which also appears in a case on tax evasion through offshore companies. Total debt to creditors — 54 billion UAH; depositor losses compensated by the Deposit Guarantee Fund — 24.5 billion UAH. The bank's liquidator publicly stated that Delta's bankruptcy could have been avoided.