The Security Service of Ukraine and the Prosecutor General’s Office, together with the law enforcement officers of France and the Principality of Monaco, detained the son of the former president of the Motor Sich company on suspicion of involvement in a large-scale scheme to embezzle the company’s assets. About this informs SBU press office.
According to the results of the international investigation, it was established that the participants in the case illegally took over a controlling stake in the state enterprise, which was later sold for 650 million US dollars.
Before the start of the full-scale invasion of the Russian Federation into Ukraine, the detainee, acting together with his father, helped him to illegally take over the company’s shares. For this, the company’s management initiated an inventory of assets, during which their value was artificially understated. Later, 65% of the shares were purchased at a discounted price, and most of them were transferred to six offshore companies controlled by the son of the ex-head of Motor Sichi.
Later, these assets were sold to foreign companies for legalization of funds. The participants used the profits received to purchase elite real estate in the countries of the European Union. During the investigation, searches were conducted in the premises associated with the detainee, in particular in his villa on the coast of Monaco and in the apartments of affiliated persons in Zaporizhzhia.
The son of the former president of “Motor Sichi” was declared suspect under part 3 of Article 209 of the Criminal Code of Ukraine — legalization of property obtained through crime, committed by an organized group on a particularly large scale. He faces up to 12 years in prison with confiscation of property.
The former head of Motor Sichi, who is currently in custody on other charges, including cooperation with an aggressor country, was also charged with a new charge. His actions are additionally qualified under several articles of the Criminal Code, in particular for the appropriation of property in particularly large amounts, committed by an organized group, and the organization of the legalization of income obtained through criminal means. Investigative actions were carried out under the procedural guidance of the Prosecutor General’s Office.
