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The Security Service of Ukraine, in conjunction with the National Police and the Prosecutor’s Office, has uncovered a scheme to embezzle funds during the construction of protective structures for an energy facility in the Mykolaiv region, as reported by the SBU.
“As a result of the operation, the perpetrators misappropriated funds totaling nearly 68 million UAH. Furthermore, the anti-drone structures that the contractor was supposed to provide have not yet been installed,” the agency informed via its Telegram channel on Wednesday.
According to the investigation materials, the scheme was orchestrated by the 37-year-old director of a private enterprise in Kryvyi Rih.
The Ukrainian special service states that this individual’s company was contracted by a state-owned enterprise to construct defensive installations against enemy drones at an energy site in the Mykolaiv region. The total value of the contract was 90 million UAH.
The SBU clarifies that the contract stipulated that the client would transfer an advance payment of approximately 80% of the work’s cost to the contractor, contingent upon the provision of a bank guarantee.
“Leveraging this provision, the individual secured an advance payment of nearly 68 million UAH, despite the investigation revealing that he had no intention of fulfilling his contractual obligations,” the report indicates.
The SBU reports that despite the contract’s deadline of 240 days from its signing, the company never commenced the work.
“To conceal the funds’ origin and subsequently launder the money, the individual transferred it to other companies under his control,” the statement notes.
During searches conducted at the suspect’s premises, evidence confirming his illicit activities was seized, including company incorporation documents, accounting records, and computer equipment containing correspondence.
Investigative actions have resulted in the suspect being formally charged under Part 5 of Article 191 of the Criminal Code of Ukraine (appropriation, embezzlement of property, or acquisition of property by abuse of official position, committed by a prior conspiracy of a group of individuals on a particularly large scale).
The investigation is ongoing, with efforts underway to identify any other individuals potentially involved in the scheme.
These measures are being carried out under the procedural supervision of the Kyiv City Prosecutor’s Office.