The department of special investigations of the Ukrainian Prosecutor General's Office (PGO) has reported that former head of the State Agency for Investment and Development was notified that he is suspected of embezzling state-owned funds.

"The department of special investigations during the pretrial investigation of a criminal case on October 2, 2017 notified the former head of the State Agency for Investment and Development that he is suspected of committing a crime under Part 5 of Article 191 (misappropriation, embezzlement or conversion or property by malversation) of the Criminal Code of Ukraine," the press service of the PGO reported on Friday.

The PGO said that in 2010-2011 he embezzled budget funds on an especially large scale in the amount of over UAH 195 million via abuse of office in collusion with one of the government members in favor of some economic entities, groundlessly providing support of innovative and investment projects in the real economic sector.

The PGO asked the court to detain the suspect.

The press service of the PGO did not specify the name of the suspect. According to Interfax-Ukraine's information, this is former head of the State Agency for Investment and Development Oleksandr Tarane