As reported by the press service of the National Police of Ukraine, the management of an unnamed bank and a commercial company entered into a series of agreements to provide the borrower with so-called overdrafts (credit limits). This means that the bank extended credit to the client, allowing them to make transactions even in the absence of funds in their account.
Using this scheme, the financial institution granted the company a loan with a limit exceeding 20 million UAH. Knowing in advance that the borrowed funds would not be repaid and that the pledged assets existed only on paper, the parties signed the documents without conducting the necessary due diligence on the borrower. Following this, the loan was fully disbursed to the company.