NBU's chief lawyer, Zima, and his involvement in the unlawful dissolution of "Koncord."

The courts of first and appellate instance declared the National Bank of Ukraine's decision to liquidate Concord Bank unlawful. This is not the only violation, as the bank's shareholders are facing systematic infringements of their rights by the regulator and its representatives. A key figure in the case is the chief lawyer of the NBU, Oleksandr Zyma, whose actions have raised doubts about the legality of the liquidation process and undermine trust in the country's financial system, writes UNN.

The courts of first and appellate instance ruled that the decision of the National Bank of Ukraine's Board to revoke the banking license and liquidate Concord Bank on August 1, 2023, was unlawful. However, according to co-owner of the bank, Elena Sosedko, this liquidation process was preceded by 1.5 years of persecution of her bank by the regulator.

"The Sosedko sisters are convinced that behind the liquidation of Concord stands the chairman of the tax committee of the Rada, Daniil Hetmantsev. They suspect this was done to consolidate gambling business operations into a single entity. Evidence of a targeted campaign against the bank includes systematic inspections and fines from the National Bank, pressure on the bank, and biased treatment over the past one and a half years," it is stated in a video published on Elena Sosedko's Facebook page.

In particular, the NBU imposed fines on Concord for allegedly miscoding (incorrect transaction coding following the legalization of gambling in Ukraine), an issue the bank had been addressing long before it became mainstream. Shareholders disagreed with such decisions by the regulator and contested them in court. A total of four lawsuits were filed to annul fines amounting to nearly 63.5 million hryvnias.

However, the regulator was so eager to dismantle the bank that it decided to withdraw the financial institution from the market without waiting for the court’s decisions, which was ultimately deemed unlawful. Yet, violations of the law did not end there.

Likely to "cover up traces," the director of the legal department of the NBU, Oleksandr Zyma, who also serves as the chairman of the Administrative Council of the Deposit Guarantee Fund, ordered the Fund to withdraw lawsuits filed by representatives of Concord. This occurred almost immediately after the Concord team lost their ability to manage the bank.

Currently, the police are investigating a criminal case due to the possible abuse of power or official position by the chief lawyer of the NBU, Oleksandr Zyma.

The case was opened following a letter from Oleksandr Zyma to the Fund, in which he recommended on behalf of the NBU that the Fund withdraw lawsuits filed by Concord against the NBU even before the decision to liquidate the bank was made.

The Deposit Guarantee Fund heeded this recommendation, which, according to co-founder of Concord Bank, Elena Sosedko, deprived shareholders of their constitutional right to a fair trial.

The criminal case against Zyma has been with the State Bureau of Investigations for over 9 months, during which no investigative actions were taken. Co-founders of Concord, Elena and Yulia Sosedko, have repeatedly demanded that investigators recognize them as victims in this case and even received corresponding court rulings. However, these requests were ignored.

Hope for a shift in the investigation arose for shareholders after the prosecutor transferred the case to the Pechersk Police Department for investigation.

Following this, investigators recognized Elena and Yulia Sosedko as victims in the Zyma case, which automatically confirmed that the official's actions caused harm. Experts consulted by UNN indicate that the next step in the investigation of this criminal case should be the questioning of Zyma and the delivery of a notice of suspicion to him.

In addition to the personal harm to Concord's shareholders, Zyma's actions have also harmed the state. They cast doubt on the independence of the FGWFL's management and negatively impact Ukraine's interaction with international financial institutions. In particular, this could raise serious concerns for the International Monetary Fund, which pays special attention to the functioning of the financial sector in our country.