Ukranian Oversight Chief Accused of Corruption

News

The head of Ukraine’s primary financial watchdog has been detained on suspicion of corruption, reports Reuters.  Vasyl Volga, the head of a state commission monitoring non-bank financial companies was detained by Ukrainian authorities on Tuesday, announced the state prosecutor’s office.

July 20, 2011

Volga, who heads the State Commission for Regulation of Financial Services Market is the highest ranking man to be arrested for corruption since Viktor Yanukovich became President in February 2010.

His arrest comes after Western governments expressed concern that Yanukovich’s anti-corruption campaign is primarily focused on members of his main opposition, including former Prime Minister Yulia Tymoshenko.  Volga, who used to be a member of a parliamentary committee on fighting corruption, is part of the current government, but not part of Yanukovich’s party.