Court sentences Volha to 5 years in prison without confiscation of property

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Sept. 24, 2012, 8:11 p.m. | Ukraine | Politics — by Interfax-Ukraine

Court sentences financial market watchdog ex-head Vasyl Volha to 5 years in prison.


The Interfax-Ukraine News Agency – a company belonging to the Interfax Information Services international group – has been an information provider in the political and economic information market of Ukraine since 1992.

Shevchenkivsky District Court in Kyiv has found the former Head of the State Commission for Financial Service Markets Regulation, Vasyl Volha, guilty of an attempt to take a bribe and sentenced him to five years of imprisonment. 

The court announced its verdict on Monday.

According to the verdict, Volha is banned for three years from holding managerial, administrative and executive posts in organizations and institutions of all forms of ownership.

At the same time, the court did not support the public prosecution's demand to confiscate Volha's property.

As reported, Volha was detained on July 19, 2011. On July 21, 2011, it was reported that a criminal case was opened against Volha under Article 368 of the Criminal Code on suspicion of receiving a $500,000 bribe under preliminary collusion with a group of individuals.

On July 25, 2011, Ukrainian President Viktor Yanukovych dismissed Volha as head of the State Commission for the Regulation of Financial Services Markets "due to the violation of the oath of a civil servant."

State prosecutors asked the Shevchenkivsky District Court of Kyiv to sentence Volha to six years in prison, with confiscation of his property.

In his closing statement. Volha asked the court to clear him of the bribery accusation. However, he plead guilty to the charge of official negligence. 

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