Pre-trial restraint imposed on ex-head of Ukrenergo Kudrytskyi

30 October 2025 00:34

The court has imposed a pre-trial restraint on former Ukrenergo CEO Volodymyr Kudrytskyi in the form of detention. He is accused of fraud on a particularly large scale. This is reported by "Komersant Ukrainian" with reference to Suspilne.

The court ruled to keep Kudrytskyi in custody for two months with the right to be released on bail in the amount of almost UAH 14 million. The prosecution requested this measure of restraint.

According to the newspaper, Kudrytsky stated in court that he has an “impeccable business reputation.” He considers the prosecutors’ request unfounded.

“I am going to prove that the suspicion is absurd. There was no fraud or intent, and I had no contacts with people who could be involved in any dishonest actions,” the former official said.

The SBI announced Kudrytskyi’s detention on October 28. He was notified of suspicion of fraudulent misappropriation of funds of a state-owned enterprise.

According to the investigation, in 2018, during tenders for the reconstruction of the outer fence of substations of the Southern and Western power systems, Kudrytskyi entered into a conspiracy with representatives of a private company. At the time, he was Ukrenergo’s deputy director for investments.

What Kudrytskyi and Hrynkevych are charged with

According to the investigation, Kudrytskyi, together with businessman Ihor Hrynkevych, who is already in jail, could have seized public funds during tenders for the reconstruction of power system facilities back in 2018. It is a scheme to overstate the cost of work and the volume of deforestation during the construction of energy highways.

Investigators have opened several criminal proceedings related to his activities during his tenure as the head of Ukrenergo.

How the scheme worked

According to the investigation, in 2018, when Volodymyr Kudrytskyi was Deputy Chief Investment Officer of Ukrenergo, he entered into a conspiracy with representatives of a private company associated with a Lviv businessman who had previously been found by the SBI to have purchased low-quality clothing for the Armed Forces of Ukraine for more than UAH 1 billion.

The parties organized tenders for the reconstruction of the outer fence of substations of the Southern and Western power systems. The tenders resulted in two contracts worth over UAH 68 million.

After signing the contracts, Ukrenergo transferred advance payments to the contractor for more than UAH 13.7 million. The investigation found that these funds were immediately withdrawn through fictitious companies and misappropriated without the intention of performing construction work.

Later, the participants of the scheme conducted a number of financial transactions to legalize the proceeds of crime. In doing so, they used forged documents to register a legal entity that was involved in the scheme as a contractor.

Who is suspected and what articles are charged

SBI officers served a notice of suspicion to a Lviv businessman and detained the former chairman of the board of Ukrenergo on suspicion of fraudulently seizing funds from the state-owned enterprise NPC Ukrenergo.

The Lviv businessman is charged with:

organization of fraud on a large scale (Part 3 of Article 27, Part 4 of Article 190 of the Criminal Code)
forgery of documents for state registration of companies (Part 2 of Article 205-1),
legalization of the proceeds of crime (part 2 of Article 209).