The Asset Recovery and Management Agency of Ukraine (ARMA), acting on a request from a law enforcement agency within a criminal investigation, has conducted a comprehensive search for the assets of executives from Ukrainian airline companies.
According to the investigation, the individuals involved are suspected of evading taxes and mandatory payments to the State Budget of Ukraine. In particular, flight crew salaries were allegedly paid “under the table” in cash, resulting in significant financial losses to the state.
To fulfill the request, specialists from ARMA’s Department of Digital Development, Asset Tracing and Identification conducted asset tracing using the agency’s access to government registries and databases. As a result, the following assets were identified:
- 20 aircraft;
- Over UAH 75 million in bank accounts;
- Company shares valued at over UAH 3 million;
- Motor vehicles.
Pavlo Velykorechanin, Deputy Head of ARMA, stated:
"All of these identified assets may serve as a source for compensating the state’s losses. Our goal is to ensure that such assets are not hidden but instead contribute to the interests of the state and society."
The information on the discovered property has been transferred to the competent law enforcement authority for consideration of asset seizure within the framework of the ongoing pre-trial investigation.
