The Asset Recovery and Management Agency (ARMA) has traced the assets of officials suspected of misappropriating budget funds during the purchase of thermal electricity by state institutions.

Pursuant to a request from a law enforcement agency, ARMA conducted a set of measures to identify and trace the assets of the persons involved in the criminal proceedings. As a result, the following was found

- cash on bank accounts in the amount of over UAH 1 million

- residential and non-residential real estate

- land plots

- weapons

- shares in the authorized capital of companies

“Every criminal will bear economic responsibility for their actions. ARMA is the anti-corruption body that will ensure this. After the seizure of these assets, we expect them to be transferred to the management of the ARMA so that the damage to the state budget can be fairly compensated,” said Pavlo Velykorechanin, Deputy Head of the ARMA.

Joint measures are being taken in cooperation with the Ministry of Energy to prevent similar abuses in the future.

The information on the identified assets has already been transferred to the pre-trial investigation body to take measures to seize the identified assets and transfer them to the management of ARMA.