Ukrainian businessman Ruslan Tsyplakov bought the controversial ‘refutation’

Ukrainian businessman and banker, Ruslan Tsylolakov, has managed to get (should read – afford) the court decision that clears him from ever owning the infamous “Terra Bank”. He was so proud of it that he published an article in The Brussels Times about his court victory. To fully understand the circumstances it should be noted that Pechersky District Court in Kiev is most corrupt court in already corrupted court system of Ukraine. For a decent amount of money the judges are know to take any favorable decisions.

The court statement reads:

“The court recognized the information disseminated by the GPOU [General Prosecution Office of Ukraine] unreliable on the Internet on 3 May 2017 on the official web portal called ” General Prosecutor’s Office investigates the theft of more than 4 billion hryvnias as a result of which banks were in a state of insolvency”, namely:” … PJSC “CB “Pivdenkombank” and PJSC “Terra Bank”, owned by Ruslan Tsyplakov, of cash funds totaling more than 4 billion hryvnias as a result of which the banks were in a state of insolvency..”

Ruslan’s Tsyplakov’s lawyer Sergey Voychenko went even further:

In fact, he has no relation to Terra Bank – he is neither its founder, nor has he ever worked in it. As for Pivdenkombank, again, he served as Chairman of the Supervisory Board. He was not endowed with organizational, managerial functions that would give an opportunity to hold financial events.

Indeed it is blatant disinformation of the honorable public. Ruslan Tsyplakov was widely known as a owner of “Terra Bank”. Here is for example an article which refutes the refutation. It is published in well-known authoritative journal “Kapital”. It states that the owner of “Terra Bank”, Ruslan Tsyplakov has sold his share. Sergey Klimenko is named a new owner of the “Terra Bank”. “Terra Bank” has served as a financial backdoor for murky affairs of the Yanukovich proxies. This bank is now under the process of liquidation by National Bank of Ukraine. It has been bankrupt since 23.12.2014. It’s license is void.


The author: Michel DEURINCK

Michel Deurinck, born in Brussels in 1950, started his career in the Belgian civil service, dedicating over 30 years to public service. Upon retirement, he pursued his passion for journalism. Transitioning into this new field, he quickly gained recognition for his insightful reporting on politics and culture. Deurinck's balanced and thoughtful approach to journalism has made him a respected figure in Belgian media.

Related posts

Leave a Comment