Ex-Ukrtatnafta chief wanted by Interpol in $150M fuel embezzlement case
The National Police of Ukraine have announced that the former chairman of one of the country’s largest oil refining companies, along with five associates, has been placed on Interpol’s international wanted list in connection with the alleged embezzlement of fuel worth 5.8 billion hryvnias.
According to police reports, the former executive is accused of establishing a criminal organization that included his deputy, a department head, and six businesspeople. Investigators say that companies under his control signed fuel supply contracts with the oil refining company but failed to make payments. Instead, they allegedly laundered the proceeds through accounts in a foreign bank.
Nine individuals have been charged under Article 191, Part 5 of the Criminal Code of Ukraine (misappropriation or embezzlement of property through abuse of official position).
In addition, law enforcement has frozen securities accounts at a French investment firm linked to the former chairman, as well as the corporate rights of several companies.
The Main Investigation Department has placed six suspects on both national and international wanted lists. With the assistance of the Department of International Police Cooperation, Interpol red notices have been issued.
"When the perpetrators are identified in any civilized country, they will be arrested and extradited to Ukraine, where they face up to 12 years in prison with confiscation of property," police officials said.
Authorities have not named the oil refining company involved. However, the circumstances suggest the case concerns Ukrtatnafta and Pavlo Ovcharenko, who headed the company until 2022.
- Ukrtatnafta operates Ukraine’s largest oil refinery, located in Kremenchuk. Until November 2022, its shareholders included Naftogaz of Ukraine and Igor Kolomoisky’s Privat Group. On November 7, 2022, the company, along with several others, was transferred to state ownership.
- Ruslan Lyapka, the former acting chairman of Ukrtatnafta, has been formally charged in three criminal cases.