September 16, 2015
Ukraine could again be involved in a scandal. The investigation led by Ukraine’s authorities accused a former top manager of the UniCredit bank in Ukraine Borys Timonkin of the laundering money for Sergey Kurchenko, an oligarch from the circles of Viktor Yanukovich, Ukraine’s runaway president.
Borys Timonkin is one of the most well-known and smartest bankers in Eastern Europe.
His partners remember Borys as a professional financier. During the time when Borys Timonkin was at the helm of UniCredit in Ukraine, the bank showed the highest results of its activities and sealed the largest deal in its history in the country. In 2012, in the financial community, bank has received recognition as a market leader in syndicated loans and structured finance.
Now Timonkin lives in Germany. He is undergoing cancer treatment.
In Ukraine the name of Timonkin is associated with the Viktor Yanukovich regime. During Timonkin’s time at UniCredit, oligarch Segey Kurchenko invited him to be a member of the supervisory board of the Brokbussines Bank, controlled by Kurchenko. Timonkin accepted the proposal.
Now prosecutors in Kyiv accuse Timonkin of being complicit in money-laundering at the Brokbussiness Bank and embezzling money of Ukraine’s Agrarian Fund – worth about 2 billion UAH (800 mln.euro) – which was provided by Kurchenko’s Brokbusiness Bank.
It’s straight that investigation built his story on the Timonkin participation on the laundering money for the Brokbussiness Bank, the duty of the consultant in Brokbussiness bank doesn’t give you rights to obtain financial founds.
However, Timonkin rejects the accusations. He told the internet portal Ukrainska Pravda” that he received proposals from the “prosecutors” to close criminal proceeding against him. “They asked for a precise sum of money from me: $2 million. I did not give it to them.”
Timonkin also said in an interview that he didn’t support various “black schemes” because “reputation is priceless.” Timonkin added, “I received a big salary and doesn’t need any other kind of income.”
“Doubtful investigations and policy are practiced by authorities in Ukraine,” say experts and activists from various organizations. They are doing a lot of work to fight corruption in the government after the 2013-14 Euromaydan events – also known as the Revolution of Dignity – when the people of Ukraine through mass protests overthrew pro-Russian president Viktor Yanukovich.
Activists from the anti-corruption movement say that Ukraine needs to imprison the corrupt politicians from the Yanukovich’s entourage, some of whom now continue to work in the current Arseniy Yatsenyuk-led government. They are hunting for a managers, but now for a boss.
Over a year after the mass shootings of protesters on Ukraine’s main square, the Maydan, the Ukrainian society does not know who is responsible for the assassination of over 100 Ukrainian citizens.
Yanukovich fled to Russia. Petro Poroshenko became the new President of Ukraine. This was followed by the promises to arrest those responsible for the Maydan shootings.
Time passed. Ukrainians observed as four General Prosecutors changed one another. Promises continued to pour out of their mouths. Officials from the Yanukovich regime are still loose.
In the absence of the main responsible persons for the shootings of Euromaydan protesters, the persecutors attention has shifted to business people and top managers that prospered during the Yanukovitch presidency.
In Ukraine now it’s a normal thing to accuse a person with fake citations, without evidence.Taras Semenyuk