HACC confiscated a controlling stake in Ukrainian “PIN Bank” in favor of the state

Author:
Sofiia Telishevska
Date:

The panel of judges of the High Anti-Corruption Court satisfied the lawsuit of the Ministry of Justice of Ukraine and confiscated the First Investment Bank (PINbank) from the Russian Yevgeniy Giner.

This was reported by the press service of the court.

“By the courtʼs decision, the assets of the defendant — 88.890583% of the shares of the Ukrainian bank — were charged to the state income,” the court informs.

Yevheniy Giner is the president of CSKA Moscow. He is under Ukrainian sanctions, in particular due to his connection with the Rostech corporation, which supplies weapons and ammunition to the Russian army. Last year, on this basis, the law enforcement authorities secured the seizure of PINbank shares, one of Ginerʼs key assets in Ukraine.

On October 24, these assets were transferred to the management of ARMA, on the same day the NBU deprived Giner of voting rights in PINbank.

Together with his business partners Mykhailo Voevodin and Oleksandr Babakov, Giner controls not only PINbank, but also five regional power distribution companies (Khersonoblenergo, Kirovogradoblenergo, Zhytomyroblenergo, Rivneoblenergo, Chernivtsioblenergo).

They also control the Zaporizhzhia enterprise Dniprospetsstal and a large chain of Premier Hotels & Resorts, including the five-star Premier Palace in Kyiv and Premier Hotel in Odesa.