As President Yanukovych fell, regime-connected bank sent millions offshore
13 Dec 2017

By Kateryna Kapliuk, OCCRP

It’s been almost four years since Viktor Yanukovych, Ukraine’s former president, fled the country after the Euromaidan revolution. But the new government’s investigators have so far been unable to establish how much money his rule has cost the country – or where it went.

There has been even less progress punishing those who enriched themselves through their connections to the former president, a group dubbed “the Family” due to the involvement of both of his sons.

Now, thanks to documents released in the Panama Papers leak last year, journalists have established how, in the last days of Yanukovych’s rule, about US$ 19 million in state funds were diverted from a large Ukrainian bank that belonged to a friend of the president’s younger son.

A portion of the funds ended up in offshore companies connected to the bank’s owner.

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