NABU has uncovered a large-scale scheme involving Ukrnafta's petroleum products
NABU uncovered a scheme to embezzle petroleum products from PJSC “Ukrnafta” and subsequently launder the proceeds from their sale.
According to the investigation, the leaders of the business group devised and carried out a scheme to misappropriate 100,000 metric tons of petroleum products worth over 2.88 billion hryvnias.
“Initially, the petroleum products were transferred to a controlled company through commission agreements. Subsequently, a portion was diverted to other affiliated firms for retail and wholesale sale through a network of gas stations. The proceeds from these sales were transferred to controlled companies, including those abroad,” the statement reads.
To conceal the ultimate owners (members of the business group), a complex network of offshore companies was used in the jurisdictions of Cyprus, Belize, St. Kitts and Nevis, and the British Virgin Islands.
"The volume of petroleum products acquired by the participants in the scheme accounted for nearly 20% of the total volume of fuel sold at Ukrnafta gas stations during the implementation of the scheme.
In addition, the circumstances surrounding the misappropriation of Ukrnafta’s assets in subsequent periods—particularly after martial law was imposed in Ukraine—are being investigated,” the Bureau noted.
This was reported by the NABU press service.
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