Former MFA State Secretary Oleksandr Bankov Suspected of Embezzling Over 37 Million UAH in Donations to Support Ukraine
The NABU and SAP have announced the exposure of an organised criminal group, allegedly led by the former State Secretary of the Ministry of Foreign Affairs of Ukraine.
Law enforcement officials claim that participants in the scheme seized funds from foreign citizens and donors. These funds were intended to support Ukraine at the outset of the full-scale Russian invasion and were subsequently laundered through conversion centres.
According to the investigation, the former MFA State Secretary persuaded international donors and subordinate employees of foreign diplomatic missions to direct financial aid to the bank account of a controlled public organisation. Expert conclusions indicate that the funds received by this NGO legally constituted targeted budget funds from the special fund of the MFA of Ukraine.
Subsequently, these funds were transferred to accounts belonging to controlled individual entrepreneurs and legal entities, which then moved them to conversion centres for cashing out. The laundered money was used by the scheme participants for personal enrichment.
NABU notes that, to create the appearance of legitimate activity for the public organisation, the scheme participants fabricated fake letters and signed grant agreements containing false information.
To date, the investigation has established the legalisation of funds totalling over 37 million UAH (approximately 1.28 million USD at the time of the crime).
The suspects include:
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The former MFA State Secretary (2020-2024), identified as the organiser of the scheme.
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The former head of the MFA State Secretary’s office, who is a current diplomatic employee.
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An advisor to the former Minister of Foreign Affairs, who also heads the controlled NGO.
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The NGO’s accountant.
It is known that Oleksandr Bankov served as the State Secretary of the Ministry of Foreign Affairs of Ukraine from 2020 to 2024.
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