The cheated depositors of Bank Mykhailivsky will receive payments from the Individuals Deposit Guarantee Fund for a total of more than UAH 1.2 billion if the law on amendments to the law on the system of individuals' deposits guarantees initiated by President Petro Poroshenko is passed by the Verkhovna Rada.
Deposit refunds will be paid to about 14,000 people in the period not later than 20 days from the date of entry into force of the law. However, criminal proceedings are opened against the owner of the Bank Myikhailivsky Viktor Polishchuk and former Chairman of the Board Igor Doroshenko. The top managers of the failed bank are suspected of the fraud in total worth more than UAH 5 billion.
