The investigation department of Prosecutor General's Office (PGO) in Sumy region on December 6, 2016 notified the former board chairman and readjustment manager of public joint-stock company Sumykhimprom that he is suspected of embezzling the company's assets via purchase of raw materials at too high prices and groundless spending on law services.

Ukrainian PGO said on its website on Thursday that the readjustment manager of the company is not in Ukraine now, and the notifications were handed to administration of Sumykhimprom and the housing management company that services the building where he lives in Sumy.

"During the pretrial investigation it has been established that the loss caused to the enterprise, where 99.9% of the charter capital belongs to the state, is UAH 93 million," PGO said.

Prosecutor General Yuriy Lutsenko said that the suspect fled to Russia on Wednesday.

"Due to the escape of the suspect to Moscow on December 7, 2016, the investigating judge satisfied the petition of PGO and permitted to detain him," Lutsenko said on his Facebook page.

PGO said that the readjustment manager is put on the wanted list. He is suspected under Part 5 of Article 191 (embezzlement of property on an especially large scale), Part 1 of Article 366 (forgery in office) and Part 2 of Article 209 (laundering proceeds from crime) of the Criminal Code of Ukraine.