Millions in losses from shadow leasing: former State Reserve chief under suspicion
22 May 19:25
The National Anti-Corruption Bureau of Ukraine (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAPO) have uncovered a large-scale corruption scheme involving the embezzlement of funds from a state-owned enterprise under the jurisdiction of the State Agency for Reserve Management of Ukraine. This was reported by NABU, according to "Komersant Ukrainian".
According to the Anti-Corruption Bureau, the suspects include:
- the former head of the State Reserve;
- the former deputy director of the state-owned enterprise;
- the organizer of the scheme;
- an individual acting as an accomplice.
“According to the investigation, in the fall of 2022, the suspects devised a plan to embezzle funds from the state-owned enterprise through the provision of warehousing services. Starting in January 2023, officials of the state-owned enterprise, under the guise of warehousing services, transferred significant warehouse space to private companies under their control,” the statement reads.
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The NABU reports that these companies subsequently leased the state-owned space to actual businesses. The money received for this was converted into cash and ended up in the pockets of the scheme’s participants.
“To cover up the crime and create the appearance of legitimate activity, officials of the state-owned enterprise entered into fictitious contracts with controlled firms. They included knowingly false information in the acceptance and transfer acts: on paper, the area of the leased premises was significantly smaller than what was actually used,” the statement reads.
According to the NABU, the amount of losses totals approximately 36 million hryvnias. The suspects’ actions are classified under Part 5 of Article 191 of the Criminal Code of Ukraine.
According to the Anti-Corruption Bureau, the organizer of the scheme was detained while attempting to cross the state border. The court imposed a preventive measure in the form of detention.
“A series of searches were conducted at the residences of the scheme’s participants. Investigative actions are ongoing, and the circle of all persons involved in the operation of the corruption scheme is being established,” the statement reads.
Disclaimer. In accordance with Part 1 of Article 62 of the Constitution of Ukraine, a person is presumed innocent of a crime and may not be subjected to criminal punishment until their guilt is proven in accordance with the law and established by a court conviction.
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