Two senior bank managers detained in illegal casinos case

The court ruled to remand in custody two department chiefs at JSC Ibox Bank for what the investigation believes was laundering nearly UAH 5 billion for illegal online casinos.

That’s according to the Bureau of Economic Security, Ukrinform reports.

"As part of the case run by the Bureau of Economic Security, precautionary measures have been imposed on two department heads at JSC Ibox Bank, who laundered nearly UAH 5 billion for illegal casinos. The court ruled to remand the suspects in custody," the report says.

During the inquiry, it was established that the suspects, together with the bank's shareholders, set up a scheme to legalize funds using a "miscoding" technique. To this end, more than 20 front companies were created, which opened accounts in the said bank.

Then customers of illegal online casinos transferred money to the mentioned companies to replenish their gaming accounts. At the same time, as purpose of payment they wrongfully claimed payments for non-existent goods and services.

Currently, three suspects have been put on wanted list. Also, measures are being taken to extradite the suspects to Ukraine for criminal prosecution. The pre-trial investigation is ongoing.

As Ukrinform reported earlier, the National Bank decided to strip Ibox Bank of its banking license and liquidate it on March 7, 2023.

Photo: Ixboxonline