Investigators of the State Bureau of Investigation established that a Ukrainian citizen received over EUR 20 million in dividends from a Cyprus company to his personal bank account. Subsequently, in order to legalise the funds, he intentionally submitted an income tax return to the State Tax Service of Ukraine with false information. The amount of violations is about UAH 54 million.

Employees of the Asset Recovery and Management Agency (ARMA) have traced the assets of a Ukrainian citizen suspected of tax evasion.

According to Pavlo Velykorechanin, Deputy Head of ARMA, the Asset Finding and Tracing Department conducted a detailed analysis of information from all registers and databases available to ARMA.

‘The analysis revealed that the person involved in the criminal proceedings has assets of 5 real estate objects, 5 land plots, a car, a motor vessel and a share in the authorised capital worth almost UAH 300 thousand. It was also established that he had open bank accounts with account balances exceeding one million hryvnias,' said the specialised Deputy Head of the National Agency.

He also added that measures are currently being taken to search for other assets of the suspect outside Ukraine.

ARMA transferred the information obtained during the investigation to the pre-trial investigation body for seizure of the identified assets.