Pryvatbank, one of the largest banks in Ukraine, has suspended acceptance of online payments into accounts of 16 internet companies suspected of fraud.
Pryvatbank announced this in a statement.
«Pryvatbank has suspended acceptance of online payments into accounts of 16 internet companies, operations of which show numerous signs of financial pyramids and fraud,» Pryvatbank said in the statement.
According to Pryvatbank, the operations of these internet companies are based on the principle of network marketing and involve collection of contributions for participation in a project that is dubious in nature.
«For example, one of the internet companies collected funds (the equivalent of USD 150) in two months from people seeking to participate in a training program and transferred the clients’ funds through payment systems on the internet. However, no action was taken to organize this training during this period: there were no cooperation agreements, trainers, real coordinates for contacts,» Pryvatbank said in the statement.
Pryvatbank stressed that the other companies operated in the same manner, particularly in the areas of sale of medicines, tourism, and services.
As Ukrainian News earlier reported, the assets of the Pryvatbank were valued at UAH 97,468.6 million as of July 1, 2010, when its loans to clients and its clients’ loan debts amounted to UAH 85,436.6 million, and its equity amounted to UAH 10,890.0 million.
Pryvatbank ended the period of January-June 2010 with a net profit of UAH 631.158 million after ending the entire 2009 with a net profit of UAH 1,050.489 million.
Ihor Kolomoiskyi owns 49.15% of the shares in Pryvatbank and Hennadii Boholiubov 48.99%.
