The National Anti-Corruption Bureau of Ukraine (NABU) has uncovered a scheme involving the embezzlement and laundering of over 37 million UAH (approximately $1.28 million USD) in international financial aid intended to support Ukraine. The scheme was allegedly organized by Oleksandr Bankov, former State Secretary of the Ministry of Foreign Affairs of Ukraine (MFA), who served in the role from 2020 to 2024.
According to investigators, the former official persuaded international donors and staff at foreign diplomatic missions to direct donations to the bank accounts of a controlled non-governmental organization (NGO). Legally, these funds held the status of targeted budget funds allocated for the MFA’s special fund, but they were instead diverted for the personal enrichment of the scheme’s participants.
The collected funds were transferred to accounts held by controlled sole proprietorships and corporate entities before being funneled through conversion centers to be cashed out. To create the illusion of legitimate activity, those involved fabricated official letters and signed grant agreements containing falsified information.
NABU investigators executed the operation using evidence provided by the State Audit Service of Ukraine.
A total of four individuals have been implicated in the investigation into the embezzlement and laundering of international donations:
Oleksandr Bankov — Former State Secretary of the MFA (alleged organizer);
Former Head of the MFA State Secretary’s Staff — A currently serving diplomatic official;
Advisor to the Former Minister of Foreign Affairs — Head of the controlled NGO;
Chief Accountant — The NGO’s accountant.
The actions of the suspects have been classified under Part 4 of Art. 190 (Fraud), Part 5 of Art. 191 (Misappropriation or embezzlement of property on a particularly large scale), and Part 3 of Art. 209 (Laundering of proceeds obtained through crime) of the Criminal Code of Ukraine.
“To create the appearance of lawful activity, participants in the scheme generated fictitious letters and executed grant agreements containing false entries,” statement from the investigation revealed.
According to Oleksandr Bankov’s official 2024 asset declaration filed prior to his dismissal, he reported over 1.7 million UAH in salary from the MFA and 45,000 UAH from LLC «Gas Supply Company ‘Naftogaz of Ukraine’.» The former official also declared $25,000 in cash reserves.
The former diplomat’s family property portfolio includes multiple real estate assets and a vehicle:
An apartment in Kyiv (99.9 sq. m), acquired in 2020 for 2.7 million UAH.
An apartment (42.5 sq. m) in the Bucha region owned by his wife, Anna Doroshenko.
A 33.3% share in a Kyiv apartment (80 sq. m).
A 2018 Volkswagen Tiguan registered in his wife’s name in May 2022.
The investigation into the misappropriation of international humanitarian assistance remains ongoing, with pre-trial restriction measures currently being determined for all alleged co-conspirators.