Ukraine's PrivatBank used for shady deals and money-laundering: central bank

KIEV: Ukraine's PrivatBank was used for money-laundering and shady deals where 95 percent of corporate loans went to companies related to the former owners, the central bank said on Tuesday, citing a probe it commissioned by the global agency Kroll.

"The investigation has identified that PrivatBank was subjected to a large scale and coordinated fraud over at least a 10-year period ending December 2016, which resulted in the Bank suffering a loss of at least $5.5 billion," the central bank said in a statement.