The SBU has uncovered a multimillion-dollar embezzlement scheme at Ukrgazvydobuvannya
The Security Service of Ukraine, in cooperation with law enforcement agencies, has uncovered a large-scale corruption scheme organized during a government procurement process for a strategic enterprise.
According to preliminary estimates by experts, the losses incurred by the state-owned company Ukrgazvydobuvannya exceed 295 million hryvnias.
The organizers of the criminal scheme turned out to be former high-ranking officials of the state-owned company who acted in collusion with a group of private entrepreneurs.
The investigation established that the perpetrators systematically embezzled budget funds allocated to support the gas extraction process.
“This was done by artificially inflating the cost of materials needed for gas production,” SBU representatives explained in an official statement.
The suspects used a network of controlled companies to carry out fictitious intermediary transactions.
The scheme was extremely cynical: private companies purchased chemical additives and other necessary products from actual manufacturers at market prices.
The goods were then resold to Ukrgazvydobuvannya at a markup that was 2–3 times higher than the initial cost.
The participants in the scheme distributed the excess profits obtained in this way among themselves according to each person’s role in the scheme.
The fact that the state suffered losses amounting to over 295 million hryvnias was officially confirmed by a forensic economic examination conducted as part of the proceedings.
Law enforcement officials have already announced charges against key members of the criminal group.
Among them are the head of a private company and a former official of Ukrgazvydobuvannya, who was directly responsible for organizing the tender procedures.
As a reminder, the SBU detained a Russian spy who was monitoring Ukrainian air defense systems and airfields.
The SBU dismantled a gang of racketeers in Ivano-Frankivsk.
