Ukraine court moves to derail major bank fraud case against Bakhmatyuk 

The Ukraine Prosecutor General’s Office moved to close its only major bank fraud case on June 26 after a judgment was handed down the previous day by the Pechersk District Court in Kyiv, which effectively canceled the criminal proceedings. However, the National Anti-Corruption Bureau of Ukraine, or NABU, said that the court ruling was not yet in force and that the agency was appealing against the decision.

The closed case is largely in relation to a controversial 1.2 billion hryvnia ($45 million) stabilization loan that was issued by the National Bank of Ukraine to Oleg Bakhmatyuk’s VAB Bank.