Kyiv's court of appeals has cut the bail for Board Chairman of United Mining-Chemical Company Ruslan Zhurylo from UAH 100 million to UAH 12 million.

"Kyiv's court of appeals annulled an order of Duty Judge Oleksandr Bobrovnyk and cut the size of the bail for Zhurylo from UAH 100 million to UAH 12 million," defending lawyer Ihor Cherezov wrote on his Facebook page on Thursday.

Kyiv's Solomiansky District court on January 27 and January 28, 2017 granted UAH 100 million bail to Zhurylo and detained him for the period of 60 days.

The bail of UAH 80 million and UAH 5 million was granted to the ex-deputy director and the sales and marketing department head.

The National Anti-corruption Bureau (NABU) said that Zhurylo was detained by the bureau on January 25, 2017.

The NABU revealed a corrupt scheme at United Mining-Chemical Company, which has reportedly caused over UAH 300 million in damage.

State-run United Mining and Chemical Company, which was reorganized as public joint-stock company United Mining and Chemical Company on December 8, 2016, started work in August 2014, when the Ukrainian government decided that the property of Vilnohirsk state mining and metallurgical plant (Dnipropetrovsk region) and Irshansk state mining and processing plant (Zhytomyr region) should be transferred to United Mining-Chemical Company for management.

In August 2016, the Ukrainian government included United Mining-Chemical Company in the list of companies subject to privatization in 2017.