Assets of the son of the ex-president of Motor Sich worth 500 million hryvnias have been arrested
According to the materials collected by the Security Service of Ukraine together with the Office of the Prosecutor General, superimposed seizure of the assets of the son of the former president of JSC “Motor Sich” in the total amount of about 500 million hryvnias. He, along with his father, is suspected of embezzling the company’s property.
62 objects of residential and commercial real estate in Ukraine, corporate rights to 18 Ukrainian enterprises, as well as shares of two joint-stock companies were seized. Among the confiscated items are helicopter assembly shops, a grinding equipment manufacturing plant, and dozens of Motor Sich infrastructure facilities, which, according to the investigation, were illegally alienated to the benefit of those involved.
We will remind that in April of this year, in cooperation with the law enforcement agencies of Monaco and France, the son of the ex-leader of “Motor Sich” was detained on the territory of the Principality of Monaco. The investigation established that he and his father illegally acquired a controlling stake in a state-owned enterprise, which were later sold for $650 million.
Both persons involved were informed of the suspicion of appropriation and legalization of property obtained through criminal means, in particularly large amounts. In order to hide the origin of the assets, the organizers of the scheme registered the property to controlled offshore structures, which were managed by the son of the former head of the company.
In the course of the international investigation, the law enforcement officers managed to discover all the hidden real estate that was used in shadow operations. All investigative actions were conducted under the procedural guidance of the Prosecutor General’s Office.
