Ukraine finds UAH 1 billion embezzled from public procurement in large-scale corruption scheme

The Asset Recovery and Management Agency has identified assets related to a large-scale corruption scheme organized by state administration officials together with commercial companies. This was reported to by the ARMA press service.

According to the investigation, the offenders misappropriated budget money through fictitious public procurement, abusing their official position and acting in collusion with contractors.

ARMA officers found non-residential real estate, vehicles and over UAH 1 billion on the accounts of companies involved in the scheme.

The information was passed on to law enforcement for seizure of the identified assets and further investigation.

"Such results confirm that ARMA has the necessary tools and professional staff to detect complex schemes of withdrawal of public money.", – said Deputy Head of ARMA Pavlo Velykorechanin.

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