The Asset Recovery and Management Agency (ARMA) has conducted a large-scale asset tracing in the criminal proceedings on embezzlement of budget funds by officials of a state body.
According to the investigation, the officials, abusing their powers, entered into contracts with related legal entities that were knowingly unprofitable for the state in 2022-2023. State funds allocated for these agreements were immediately transferred to the accounts of the participants in the criminal scheme and legalized.
At the request of law enforcement officers, ARMA employees found significant assets of the defendants in the case:
- Authorized capital worth over 40 million UAH
- More than 20 real estate objects, including residential and commercial
- More than 20 luxury cars
- About 30 land plots
- Significant funds in bank accounts - over UAH 3.5 million in various currencies
- Weapons
We also identified and analyzed information on the beneficial owners and controlled persons, as well as other assets in their possession.
“We continue to actively cooperate with law enforcement agencies to trace and manage assets that may be seized by court order and transferred to ARMA. This is an important step in counteracting the embezzlement of public funds under martial law and restoring justice,” said Pavlo Velykorechanin, Deputy Head of ARMA.
He added that all information about the 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 the ARMA.
