A 20-million-scheme: Former lawmaker extradited from Germany
16 July 08:07
Germany has extradited to Ukraine a former member of the 8th convocation of the Verkhovna Rada who is accused of stock market manipulation and laundering nearly 20 million hryvnias obtained through criminal means. After his transfer to Ukrainian authorities, a court ordered him to be held in pretrial detention. This was reported by "Komersant Ukrainian", citing the National Police of Ukraine, the Office of the Prosecutor General, and other sources.
Germany extradited the former MP to Ukraine
According to the National Police of Ukraine, on July 13, the former member of parliament was handed over to Ukrainian law enforcement officials at the “Krakivets–Korchova” international border crossing. Immediately afterward, he was detained, and the Pechersky District Court of Kyiv ordered him to be held in custody as a preventive measure.
Law enforcement officials have not officially disclosed the suspect’s name. It is known that the individual in question is former MP Ruslan Demchak.
What is the former MP suspected of?
According to investigators, in 2017, participants in a criminal scheme organized 71 cyclical transactions involving domestic government bonds (OVDP) through brokerage firms.
Such transactions:
- merely created the appearance of legitimate investment profits;
- allowed for tax evasion;
- were used to launder funds.
Investigators believe that, as a result, 19.8 million hryvnias obtained through criminal means were laundered.
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Charges were filed back in 2023
Law enforcement officials reported that the participants in the scheme were charged as early as 2023.
After that, the former lawmaker left Ukraine and was placed on an international wanted list.
In late 2025, he was detained in Germany, after which Ukrainian authorities initiated extradition proceedings.
What the suspect faces
The indictment is currently under review by the court.
The former lawmaker is charged with:
- aiding and abetting stock market manipulation;
- laundering of proceeds obtained through criminal activity.
If found guilty, he faces up to 12 years in prison with confiscation of property.
The Prosecutor General also announced another extradition
Prosecutor General Ruslan Kravchenko reported that on the same day, the former head of the finance department of a company—who is suspected of embezzlement and using forged documents—was also extradited from Italy to Ukraine.
According to the Prosecutor General, both suspects are already in Ukraine: one will stand trial, while a pretrial investigation is ongoing for the other
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