The Asset Recovery and Management Agency (ARMA) has identified significant assets belonging to the defendants in the criminal proceedings on misappropriation of budget funds during construction works.

Based on the results of the search, ARMA identified property and funds worth over UAH 3 billion, in particular

- cash on bank accounts in various currencies worth over UAH 2.8 billion

- Securities worth over UAH 50 million

- contributions to the authorized capital of companies in the amount of about UAH 5million

- more than 100 units of road transport

- more than 280 units of construction and special equipment

- several residential and non-residential real estate objects

“The amount of assets found indicates the scale of the criminal scheme to embezzle budget funds. Anyone who has illegally enriched themselves at the expense of the state must be held economically liable. The transfer of these assets to the management of ARMA will guarantee that they will work for the benefit of the state, its economy and defense capabilities,” said Pavlo Velykorechanin, Deputy Head of ARMA.

All information on the identified assets has been transferred to the relevant law enforcement agency for further seizure and transfer of assets to ARMA.