Between mid-2015 and mid-2016, Privatbank, the largest bank in Ukraine, handed out over US$ 1 billion in loans to firms owned by seven top managers and two subordinates of its owner at the time, Ihor Kolomoisky, according to a copy of its 2016 loan book reviewed by a reporter for OCCRP. Subsequently, in December 2016, the bank was nationalized after the government found that it was severely undercapitalized, threatening the country’s financial system. At least $185 million of the $1 billion in insider loans — and possibly the entire amount — was not backed by collateral, a serious violation of banking practices. To receive the money, the nine recipients created 28 companies in Kharkiv, Ukraine’s second-largest city. Almost all were founded in 2015.
— source occrp.org