At the request of the National Police of Ukraine, the Asset Recovery and Management Agency (ARMA) has traced the assets of individuals involved in large-scale fraud schemes targeting citizens.
According to the investigation, a group of individuals had long concealed their unlawful activities under the guise of investments in cryptocurrency and stock markets, particularly via the Binance platform. In reality, their scheme was aimed at illicit enrichment and misappropriation of victims’ funds.
In response to the law enforcement request, ARMA’s specialists from the Department for Finding and Tracing of Financial and Other Assets carried out asset-tracing measures and identified the following:
- 3 land plots
- A luxury car
- Residential and commercial real estate
- Shares in company charter capitals worth UAH 10,000
- Funds in bank accounts exceeding UAH 770,000
“Fraud under the pretense of crypto investment is one of the most common illicit enrichment schemes in recent times. In response to the request from law enforcement authorities, ARMA has traced assets linked to suspects in such a scheme. The identified property may be seized and transferred to state management. We continue working to ensure that criminal assets do not remain hidden but are used in the interests of society,” emphasized Pavlo Velykorechanin, Deputy Head of ARMA.
The information about the identified assets has been forwarded to the relevant law enforcement authorities to initiate seizure procedures. Following this, the assets may be transferred to ARMA for management in accordance with current legislation.
