Asset Recovery and Management Agency (ARMA) in cooperation with the Prosecutor General's Office (PGO) and the National Police has traced a significant amount of assets worth millions of dollars belonging to high-ranking officials and companies controlled by them. These individuals created a criminal group to illegally seize the property of PJSC “Ukrtatnafta. They organized an illegal free transfer of oil products to the companies under their control. The total amount of losses is estimated at almost UAH 6 billion.

The National Agency conducted the search both in Ukraine and abroad. Among

assets in Ukraine searched by the ARMA at the request of the PGO include:

● Shares in the authorized capital of Ukrainian companies worth UAH 5 million.

The above information has already been submitted to law enforcement agencies for further investigation and court proceedings. Also, thanks to participation in the EUROPOL A.S.S.E.T. project, the agency's specialists carried out tracing the assets of the persons involved in the case in foreign jurisdictions. The results of the search include:

● Bank accounts with a total balance of over USD 6 million.

The funds on the foreign accounts have already been blocked.

“This case is a vivid example of the effectiveness of ARMA's work, in particular inabroad. The use of innovative tools, such as the EUROPOL A.S.S.E.T. projectdemonstrates the efficiency and effectiveness of the National Agency at the global level. The recovered assets will be an important contribution to strengthening Ukraine's economic security, as well as strengthen the international community's confidence in our country as a reliable partner in the fight against illegal financial schemes,” said Pavlo Velykorechanin.

In addition, ARMA has already sent additional requests to the competent authorities of Israel, Cyprus, Luxembourg and Panama to confirm and identify other assets of the suspects.

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