The court has ruled to seize and transfer to the Asset Recovery and Management Agency (ARMA) funds and securities totaling over USD 35 million, previously frozen in bank accounts in Luxembourg as part of a criminal proceeding related to large-scale tax evasion.

These assets belong to a former Member of the Ukrainian Parliament who also served as the Head of the Kyiv City State Administration, as well as to offshore companies under his control.

According to information received during an official meeting between representatives of ARMA and the Asset Management Bureau of the Grand Duchy of Luxembourg, the relevant assets had been frozen and were under the Bureau’s control. Consequently, ARMA submitted formal requests to the State Bureau of Investigation (SBI) and the Office of the Prosecutor General to change the type of restrictive measure — from seizure alone to seizure with transfer to ARMA’s management.

Subsequently, under the procedural guidance of the Office of the Prosecutor General, a court decision was issued accordingly.

“This is an example of ARMA acting proactively, ensuring that the state retains control over assets moved abroad. The next step is to work internationally to legalize the Ukrainian court decision within the jurisdiction of Luxembourg,” stated ARMA Head Olena Duma.

ARMA is currently preparing the necessary submissions to the Office of the Prosecutor General to initiate the process of international legal assistance — with the aim of recognizing and enforcing the Ukrainian court decision in Luxembourg.