You're reading: Financial market watchdog ex-head Volha to be sentenced on September 24

Shevchenkivsky District Court in Kyiv will pass sentence on the former Head of the State Commission for Financial Service Markets Regulation, Vasyl Volha, who was on trial for bribery, on September 24.

Presiding judge Tetiana Ovsepian reported this decision on Tuesday after closing statements of the defendants in the case.

“To pass the sentence, the court takes itself to the deliberation room until 11 a.m. on October 24,” the judge said.

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.

On July 21, 2012, 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.