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

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

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

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. 

The Kyiv Post is disabling its online comment section due to an increase in trolls, violent comments and other personal attacks. Other news organizations worldwide have taken similar steps for the same reasons. The Kyiv Post regrets having to take this action. The newspaper believes in a robust public debate, but the discussion must be constructive and intelligent. For the time being, the Kyiv Post will allow comments on its moderated Facebook group The newspaper will consider hosting online comments again when circumstances allow. Thank you from the Kyiv Post.


© 1995–2015 Public Media

Web links to Kyiv Post material are allowed provided that they contain a URL hyperlink to the material and a maximum 500-character extract of the story. Otherwise, all materials contained on this site are protected by copyright law and may not be reproduced without the prior written permission of Public Media at
All information of the Interfax-Ukraine news agency placed on this web site is designed for internal use only. Its reproduction or distribution in any form is prohibited without a written permission of Interfax-Ukraine.