The nationalization of the biggest bank of Ukraine has been held up by the Democratic Party and their media enablers as an example of the fight against corruption by the Obama Administration at the end of 2016 before leaving office. Surprise, surprise, we at CD Media have uncovered otherwise.
CD Media has learned through various intelligence sources on the ground in Ukraine that the nationalization of Privat Bank was not accomplished in order to rid Ukraine of a corrupt financing vehicle for oligarchs. On the contrary, the development took place in order to further the corrupt agenda and financial gains of former Ukrainian President Petro Poroshenko and those that worked under him in the scheme, reaping hundreds of millions in illicit profits and effectively laundering IMF aid money. Joe Biden was initially put in charge of aid to Ukraine under the Obama administration. He and his family have been accused of receiving large payments from Ukrainian companies related to this scandal.
We have reported on one of the schemes to launder IMF money through local banks with the help of the Bank of Ukraine and its former head Valeria Gontareva here. This is just one of the schemes; there are several other variations. In short, the schemes involved skimming profits from illicit financing transactions and retaining the ill-gotten gains in third party entities, or ‘envelope’ companies.
We are not advocating the return of the bank to Ihor Kolomoisky, its previous owner. Our sources inform that Kolomoisky was using the bank to launder funds through advanced financing schemes prior to the nationalization. We will report on this further at a later date.
But to understand the Privat Bank nationalization, one must understand that Privat Bank is a massive institution, literally a too-big-too-fail bank for Ukraine. The bank is privy to very large amounts of municipal transactions which represent a lucrative target for someone looking for capital to help wash illicit profits. Our intelligence sources on the ground in Kyiv inform us the reason Privat Bank was nationalized is that Kolomoisky refused to sell it to then Ukrainian President Petro Poroshenko, who wanted a bigger cut. Poroshenko, and his ally Gontareva, then decided to nationalize the bank to gain access to its cash flows, in order to facilitate the massive laundering of IMF aid money.
Our source confirmed, “Six people participated in preparation and signing the intermediary documents and order for nationalization: Gontareva Valeria as Head of NBU (a right had of Poroshenko), Danilyuk Alexandr as Head of Ministry of Finance (by issuing the OVGZ, local bonds) required for capitalization of Privat Bank for nationalization, Head of State Deposit Guarantee Fund, Head of NBU Financial Monitoring Unit, Prime Minister Arseniy Yatsenyuk. All participants obtained sums of money for participation.
“Kolomoiskiy was then given 6-7 months to drain as much money as he could from the bank.”
The new Ukrainian Prosecutor General said as much yesterday in an interview with local Ukrainian press.
The case of the nationalization of “PrivatBank” may implicate former top officials. This was announced by Attorney General Ruslan Ryaboshapka in an interview with “Apostrophe”.
According to him, today there are two cases of “PrivatBank” in the Attorney General’s Office and the National Anti-Corruption Bureau. He also pointed out that both [investigations] must join to progress faster.
“You have to understand that “Privatbank” [investigation is] a huge amount of materials. It is necessary to analyze plus the material is difficult in itself.. (For the withdrawal of funds, – Ed.) It is not so simple as it might appear at first glance.. involved are not only the former beneficiaries, but also former senior officials and therefore the result can be really interesting and unpredictable,” Ryaboshapka added, reported RBC Ukraine.
Somehow we think this dumpster fire of corruption in Ukraine involving billions in American aid has something to do with the ‘impeachment’ kangaroo court we are now seeing in Washington, D.C.
The Democrats are really scared of something.
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