The SAPO has charged former Ukrgasbank chairman Kyrylo Shevchenko and his accomplices with embezzling approximately UAH 206 million from the bank and subsequently laundering the proceeds.

According to the prosecution, in November 2014, officials of the state-owned Ukrgasbank introduced a scheme to siphon money from the institution. Kyrylo Shevchenko, as chairman of the board, established and led the criminal organization that carried out the scheme.

Between November 2014 and March 2020, Ukrgasbank purportedly paid intermediaries for "bringing in" major clients — businesses and state enterprises — who placed funds on deposit. In reality, the clients came on their own: private businesses of their own accord, and state institutions because the Cabinet of Ministers required them to do so. There were no intermediaries whatsoever. Nonetheless, the bank transferred money to these supposed "intermediaries" — individual entrepreneurs, self-employed individuals, and shell legal entities — ostensibly as fees for client referrals, on the basis of falsified work acceptance certificates. After receiving the funds, these entities ceased to exist; most had been created solely to serve the scheme.

Ukrgasbank is the only Ukrainian state bank to have employed such a scheme — no other state bank engaged in anything comparable. Over more than five years, the bank made over a thousand transfers to the accounts of 52 fictitious intermediaries, with total illicitly withdrawn funds exceeding UAH 206 million.

The case initially involved 16 defendants, with half having entered plea agreements with SAPO. 

Seven individuals currently remain charged, including: 

• Kyrylo Shevchenko — former Ukrgasbank chairman and leader of the criminal organization 
• Denys Chernyshov — former deputy to Kyrylo Shevchenko, who served as Deputy Minister of Justice of Ukraine from 2016 to 2019
• Three fictitious bank "partners," including former First Deputy Prosecutor General Mykola Herasymiuk — who also previously competed for the position of SAPO head — his wife Kateryna Herasymiuk, and Nataliia Chernyshova, wife of Denys Chernyshov
• Dymytrii Kozak — former head of the bank's Odesa regional directorate
• Olena Khmelenko — former head of one of the bank's departments, who served as deputy director of the corporate VIP clients department at Ukrgasbank.

The case also included former regional directorate head Oleksii Liutyi, who entered a plea agreement in November 2025.

The HACC had previously approved plea agreements with eight other participants in the crime at the investigation stage. Those individuals agreed to give incriminating testimony, compensated UAH 35 million in damages, and transferred over UAH 14.5 million to support the Armed Forces of Ukraine.

The defendants' actions are charged under Articles 191, 255, 209, and 366 of the Criminal Code of Ukraine, according to each participant's role in the scheme.

Kyrylo Shevchenko is currently in Austria and has no plans to return, maintaining that the case against him is politically motivated. He and Olena Khmelenko have been remanded in custody in absentia.

Denys Chernyshov, according to the prosecutor, left Ukraine at the same time as Shevchenko. At one hearing, Chernyshov stated that he had traveled to Austria on vacation and simply never returned, explaining to the court that he left because he had "always held an active pro-Ukrainian position." The judge described this as "frank cynicism." 

Natalia Chernyshova, Mykola and Kateryna Herasymiuk, and Olena Khmelenko have also left the country and are on the wanted list. In absentia proceedings are underway against the Herasymiuk couple, as they have not been in contact.

Dymytrii Kozak was placed on the wanted list in September 2023 but appeared at SAPO in October. He subsequently traveled to Israel for medical treatment in January 2025 and is currently the only defendant in the case to have returned to Ukraine.

In November 2025, the materials concerning Oleksii Liutyi were severed into a separate proceeding following his plea agreement.