HACCU confiscates assets of former Motor Sich exec Boguslaev
18 April 2024 15:04
Today, on 18 April, the High Anti-Corruption Court partially satisfied the claim of the Ministry of Justice and confiscated the assets of Vyacheslav Boguslaev, the former president of Motor Sich, and Petro Kononenko, the former director of Motor Sich’s representative office in Moscow. This was announced by the HACC, Komersant ukrainskyi 
reports.
The panel of judges of the High Anti-Corruption Court imposed a sanction on Boguslaev and Kononenko under paragraph 1-1 of Part 1 of Article 4 of the Law of Ukraine “On Sanctions”.
The HACC confiscated the assets of the sanctioned persons, including real estate, funds placed in bank accounts, shares in the authorised capital of a number of companies, securities, property rights to trademarks and industrial designs, and firearms.
In January, the Ministry of Justice of Ukraine initiated the process of nationalising the assets of former Motor Sich CEO Vyacheslav Boguslaev and former top executive Petro Kononenko.
According to the Ministry of Justice, the lawsuit demanded the transfer of a number of assets owned by these individuals and related to the business to state ownership:
- more than 30 real estate objects (including residential and commercial premises, land plots)
- financial assets;
- corporate stakes in more than ten companies, including full ownership in such companies as SLC IC MOTOR-GARANT, Vinnytsia Aviation Plant LLC and SME Helicopters LLC, as well as stakes in FIRMA ZHEKON LLC;
- ownership rights to trademarks, patents and industrial designs;
- firearms.
The Anti-Corruption Action Centre reported that the judges refused to seize property registered in the names of close relatives, including Boguslaev’s son and grandchildren.
The confiscated property includes
- two houses,
- six land plots,
- a number of administrative buildings and garages,
- The Museum of Labour Glory,
- kosa Obitochna fishery,
- stakes in Zolota Aistra (51%), Motor-Garant Insurance Company (90.1%), Vinnytsia Aviation Plant (100%), SME Helicopters (100%), Azov Trade-XXI (16.7%),
- 2000 ordinary shares in Motor Bank.
In addition, the court confiscated property rights to trademarks and patents for industrial designs, as well as dozens of collectible weapons, including smoothbore rifles, pistols and carbines.
The HACC confiscated Boguslaev’s funds on accounts in several banks. The exact amounts will become known later, but the Ministry of Justice requested to recover funds on accounts with FUIB Bank in the amount of over UAH 65 million, EUR 206 thousand, USD 117.8 thousand and RUB 34.8 thousand, as well as on accounts with Boguslaev’s Motor Bank in the amount of UAH 40 million, USD 12.5 million, EUR 30 thousand and RUB 3 million.
The AntAC added that Boguslaev spoke Russian in court. He said that the evidence was “false”. According to him, he has not worked at Motor Sich for 16 years, is not a member of the Board of Directors and had nothing to do with the sale of engines. He was allegedly only a general designer, and sales were handled by a completely different department.
According to Boguslaev, sanctions cannot be applied to those Ukrainians who have not fled the country.
He also asked not to touch the property of his relatives, because such a decision would “cut the roots of grandchildren” who are now abroad. And they will have nowhere to return to Ukraine.
What is Vyacheslav Boguslayev, the former head of Motor Sich, suspected of?
Boguslaev was detained by the Security Service of Ukraine in October 2022, along with the head of the company’s foreign economic activity department.
He is facing charges of assisting the aggressor country, collaboration, support for terrorist organisations and, according to recent reports, resistance to the Armed Forces of Ukraine. The arrest of Boguslaev is related to suspicion of cooperation with Russia and illegal export of Ukrainian engines for Russian military helicopters through intermediaries in third countries.
It was discovered that he has held Russian citizenship since 2000 and owns real estate in Moscow.
In October 2023, the court case of former Motor Sich CEO Vyacheslav Boguslaev was brought to court, and his assets worth UAH 12 billion were seized.
