Former head of the State Reserve suspected of involvement in a 36 million hryvnia scam
This was reported by NABU and the SAPO.
Scheme involving warehouse space
NABU and the SAPO announced the exposure of a corruption scheme involving the misappropriation of funds from a state-owned enterprise under the management of the State Agency for Reserve Management of Ukraine.
According to the investigation, the losses amount to approximately 36 million hryvnias.
The suspects include the former head of the State Reserve, the former deputy director of the state-owned enterprise, the organiser of the scheme, and an individual whom the investigation considers to be an accomplice.
How the scheme worked
According to the investigation, in the autumn of 2022, the suspects devised a plan to embezzle funds from the state-owned enterprise through the provision of warehousing services.
From January 2023, officials of the state-owned enterprise, under the guise of storage services, transferred significant warehouse space to private companies under their control.
These companies then sublet the state-owned space to legitimate businesses.
According to the NABU and the SAPO, the money received from such leases was converted into cash and distributed among the participants in the scheme.
Fictitious contracts and understated space
To cover up the scheme, officials of the state-owned enterprise, according to the investigation, entered into fictitious contracts with controlled firms.
Knowingly false information was entered into the handover certificates.
On paper, the area of the premises leased was significantly smaller than that actually used.
Arrest of the organiser
The organiser of the scheme was arrested whilst attempting to cross the state border.
The court ordered his detention as a preventive measure.
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