There are plans to transfer the 150 million hryvnia bail bond for former Minister Galushchenko to ARMA
The Specialized Anti-Corruption Prosecutor’s Office has requested that 150 million hryvnias—paid as bail for former Energy Minister Herman Galushchenko—be transferred to the Asset Recovery and Management Agency (ARMA).
As SAPO prosecutor Vitaliy Rybalkin explained, the funds deposited on Galushchenko’s behalf are currently considered physical evidence in the “Forest Gump” case.
“These funds, although transferred electronically, qualify as physical evidence. [Currently] they are frozen in the High Anti-Corruption Court’s treasury account,” the prosecutor noted.
He added that once these funds are transferred to ARMA’s management, the agency will be able to use them to purchase bonds, thereby protecting them from inflation.
“What are the grounds for transferring the funds to ARMA? The monetary threshold is met if the amount exceeds the threshold amount. The final aspect of asset seizure is where we should store the assets. As a general rule, funds that constitute physical evidence are deposited into the account of the pre-trial investigation authority. But if it’s a large sum of money, to prevent a loss of value—since inflation quickly ‘eats away’ at it—the Criminal Procedure Code provides for transferring it to ARMA for management. They purchase 17% bonds. “The state will receive these 150 million in the form of bonds and can put them to good use. Plus, the interest ensures that inflationary factors do not affect the value of this seized physical evidence,” the prosecutor explained.
Lawyers representing Herman Galushchenko criticized the prosecutor for his “business-like approach” to the seized funds.
Only a representative of one of the four LLCs that posted bail for Halushchenko attended the hearing in the Appeals Chamber of the High Anti-Corruption Court. The former minister himself also did not appear. At the lawyers’ request for additional time to prepare, the court adjourned the hearing until November.
This was reported by a hromadske correspondent.
As a reminder, the High Anti-Corruption Court removed Galushchenko’s electronic ankle monitor but extended his procedural obligations.
The National Anti-Corruption Bureau of Ukraine (NABU) was unable to substantiate the allegations against Galushchenko due to confusion over the case numbers.
The High Anti-Corruption Court began reviewing Galushchenko’s appeal regarding the preventive measure.
The trial of former Energy Minister Galushchenko in the “Midas” case has begun in Kyiv.
As a reminder, former Energy Minister Galushchenko is challenging his detention in the “Midas” case in court.
As a reminder, here’s how Galushchenko gained control over Ukraine’s energy sector.
