Criminal scheme uncovered at Ukrgazvydobuvannia, losses to state exceed UAH 295 mln – Security Service
The Security Service of Ukraine, the Bureau of Economic Security, and the Office of the Prosecutor General have uncovered an illegal scheme in the natural gas extraction sector, the Security Service reported.
"As a result of comprehensive measures, a criminal mechanism at JSC Ukrgazvydobuvannia has been neutralized, which caused the state losses exceeding UAH 295 million," the Security Service said on its Telegram channel on Monday.
According to the Security Service, the organizers of the scheme were officials of JSC Ukrgazvydobuvannia, as well as affiliated entrepreneurs.
"The scheme involved the misappropriation of funds allocated for procurement by the state company. This was carried out through artificially inflating the cost of materials required for gas extraction," the statement said.
It was established that private companies controlled by the suspects purchased chemical additives and other products from manufacturers and official suppliers in Ukraine at market prices, and then resold them to JSC Ukrgazvydobuvannia at prices inflated by two to three times.
Subsequently, as the agency said, the profits from such schemes were distributed among the participants.
The conclusions of a forensic economic examination confirmed that these actions caused the state company losses exceeding UAH 295 million.
Law enforcement authorities have now notified the head of a private company and an official of JSC Ukrgazvydobuvannia, who organized the procurement tender, of suspicion under Article 191 of the Criminal Code of Ukraine (misappropriation, embezzlement of property, or acquisition thereof through abuse of office).
The issue of selecting a preventive measure is being decided.
The pretrial investigation is ongoing. Comprehensive measures are being taken to bring all participants in the scheme to justice.