Asset Recovery and Management Agency (ARMA) has received seized fundsin the amount of more than USD 1.2 million. USD and EUR 182 thousand, which isalmost UAH 60 million in equivalent.

The funds were seized as part of a criminal investigation into illegal vehiclecertification activities and tax evasion. The investigation is being conducted byinvestigators of the Security Service of Ukraine Office in Cherkasy region.

The transfer of funds became possible after ARMA appealed to the ProsecutorGeneral's Office (PGO) to transfer the seized funds to ARMA. The transfer of seizedassets to ARMA is aimed at ensuring economic responsibility for criminals andguaranteeing that such assets will work for the economy and defense of the state.

In the near future, ARMA will ensure that these funds are used to purchasemilitary bonds for the uninterrupted financial and material support of the DefenseForces of Ukraine.

In total, the portfolio of seized funds under ARMA's management amounts toUAH 10.7 billion. Of this amount, almost UAH 8 billion of seized funds are kept byARMA in military bonds.