The Asset Recovery and Management Agency (ARMA), at the request of the Main Investigation Department of the National Police of Ukraine, has found significant assets in a criminal proceeding regarding a corruption scheme in the forestry sector.

According to the investigation, officials of a state-owned forestry enterprise, in collusion with officials of the Polissya Forestry Office and exporting companies, organized a scheme to significantly underestimate the value of timber for export. In 2023-2024, the amount of understatement amounted to UAH 224 million. The timber was exported through a company controlled by officials to more than 90 non-residents at below-market prices.

Based on the results of the measures taken, the specialists of the Department for Finding, Tracing and Investigation of Financial and Other Assets of the ARMA in cooperation with the Security Department of the State Enterprise “Forests of Ukraine” found

- 45 land plots

- 64 units of motor vehicles

- 40402 cubic meters of wood

“Corruption in the forestry sector is not only an economic loss for the state, but also a threat to Ukraine's environmental safety. The detected assets should work for the benefit of the state, and ARMA will ensure this if they are transferred to the National Agency,” said Pavlo Velykorechanin, Deputy Head of ARMA.

The information on the identified assets was transferred to law enforcement agencies for further seizure and transfer to the management of ARMA.