The director of a private company has been notified that he is under suspicion in a case involving the embezzlement of nearly 68 million hryvnias whilst responsible for the security of an energy facility
The Security Service of Ukraine, in conjunction with the National Police and the Public Prosecutor’s Office, has uncovered a scheme to embezzle funds allocated for the refurbishment and construction of protective structures for one of the energy infrastructure facilities in the Mykolaiv region.
According to the investigation, in November 2024, a state-owned energy company entered into a contract with a private firm for the refurbishment of the facility and the installation of physical defences against hostile drones. The total value of the contract was 90 million hryvnias.
Under the terms of the agreement, the contractor was to receive an advance payment of almost 80 per cent of the cost of the works upon provision of a bank guarantee. As a result, almost 68 million hryvnias were transferred to the company.
According to the case file, the organiser of the scheme is the 37-year-old director of the private company. The investigation believes that even before the contract was signed, he and his accomplices had no intention of carrying out the work as stipulated.
Although the construction of the protective structures was required to be completed within 240 days of the contract being signed, the company never actually began the work. The anti-drone structures that the contractor was supposed to install have still not been erected.
According to the investigation, after receiving the advance payment, the funds were transferred to the accounts of other companies under his control via a series of financial transactions designed to conceal their origin and subsequently launder them.
During the searches, law enforcement officers seized the company’s founding documents, accounting records, computer equipment containing correspondence and other materials which, according to the investigation, confirm the unlawful activities.
The director of the private company has been served with a notice of suspicion under Part 5 of Article 191 of the Criminal Code of Ukraine. According to law enforcement officials, the state-owned enterprise suffered losses amounting to nearly 68 million hryvnias.
The issue of imposing a preventive measure on the suspect in the form of remand in custody, with the right to post bail in the amount of the losses incurred, is currently being considered.
The investigation is ongoing. Law enforcement agencies are identifying other individuals who may have been involved in this scheme.
In accordance with Article 62 of the Constitution of Ukraine, a person is presumed innocent until proven guilty by a court verdict.
