09:58 15.12.2016

PGO: Ukraine receives back UAH 22 mln of insurance payment for Cyclone 4 launch vehicle program in Brazil

2 min read
PGO: Ukraine receives back UAH 22 mln of insurance payment for Cyclone 4 launch vehicle program in Brazil

The state has received back over UAH 22 million transferred to a foreign insurance company in December 2012 under the contract to insure the creation of the Cyclone 4 launch vehicle complex at the Alcantara Launch Center in Brazil.

The public and media relations department of Ukrainian Prosecutor General's Office (PGO) reported that the Main Military Prosecutor's Office is investigating a criminal case over embezzlement of budget funds and abuse of office by officials of Pivdenne Design Bureau during the implementation of the international program on the creation of the Cyclone 4 launch vehicle complex under Part 5 of Article 191 (embezzlement of property by abuse of official post on an especially large scale) and Part 2 of Article 367 (neglect of official duty).

"In December 2012 over UAH 22 million of government secured funds were sent to a foreign insurance company under the launch vehicle insurance contract [before it has been created]," PGO said.

The insurance contract became invalid with regard to the unilateral refusal of Brazil to implement the international agreement, the Main Military Prosecutor's Office proposed to Pivdenne Design Bureau to take urgent measures not to cause damage to the interests of Ukraine.

"The insurance company returned the funds in full amount," PGO said.

The pretrial investigation is underway.

In 2003, Ukraine and Brazil signed a long-term cooperation agreement to build the Cyclone-4 launch vehicle to deliver spacecraft to geostationary transfer and low and medium Earth orbit from the Alcantara Launch Center.

In summer 2015, the agreement was denounced by Brazil. The decision took effect in summer 2016.

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