A court has frozen billions in assets belonging to the defense company "Ukr Armo Tech"
A court in Kyiv has frozen the accounts of the company "Ukr Armo Tech" for over 2.1 billion hryvnias as part of a criminal investigation into possible abuses in the supply of equipment to the Armed Forces of Ukraine. Investigators believe the company may have supplied substandard electronic warfare equipment and inflated the cost of components. All outgoing transactions have been completely halted, and the case is currently under active investigation.
The Shevchenkivskyi District Court of Kyiv has frozen the funds of Ukr Armo Tech LLC and effectively blocked the movement of over 2.1 billion hryvnias in the company’s accounts, which, according to the investigation, may have been involved in large-scale financial abuses in the field of defense procurement. The decision was made at the request of the Specialized Prosecutor’s Office for Defense, and it provides for a complete suspension of expenditure operations.
The investigation, as part of the criminal proceedings dated April 14, 2025, is examining the theory that officials of “Ukr Armo Tech,” in collusion with partners from another company, supplied the Armed Forces of Ukraine with GYURZA 01, GYURZA 02, and TISA armored vehicles equipped with MOROK portable electronic warfare systems, which may not have met the stated technical specifications. According to case materials, during testing under conditions approximating combat, these systems failed to provide adequate protection against FPV drones, raising questions about their effectiveness and actual value.
Separately, law enforcement officials are drawing attention to a possible scheme to inflate the cost of components, particularly armored metal and chassis from well-known manufacturers, where prices, according to preliminary estimates, may have been artificially increased by 30–230 percent through intermediary structures in the Czech Republic. The investigation is also examining data on the transfer of funds abroad and their subsequent conversion into cash, including transactions via crypto wallets, as well as the movement of large sums that may have passed through foreign intermediary companies.
Law enforcement officials are charging the suspects under several articles of the Criminal Code, specifically regarding obstruction of the activities of the Armed Forces of Ukraine and embezzlement of property on an especially large scale through abuse of official position. At the same time, the court ruling emphasizes that the freezing of accounts is a necessary step to prevent the possible transfer of assets and to preserve the evidence in the case.
The company “Ukr Armo Tech” is known as one of the suppliers of light armored vehicles and defense solutions for Ukraine’s security forces, but its operations are now under close scrutiny by investigators. The court ruling can still be appealed, but for now, all of the company’s financial transactions are effectively frozen.
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