Police in Ukraine bust $1.7M embezzlement scheme

17 May 2024 , 20:02
569     0
Police in Ukraine bust $1.7M embezzlement scheme
Police in Ukraine bust $1.7M embezzlement scheme

Police in Ukraine have accused the director of an energy supply company in Kyiv of embezzling more than 67 million hryvnias (US$1.7 million) from the state budget by selling electricity at inflated prices to a department within the State Water Resources Agency. 

The suspect, whose name has not been disclosed, allegedly illegally obtained tens of millions of hryvnias, as stated by the National Police of Ukraine on Thursday.

Investigators discovered that the director signed contracts in early 2022 obliging a department within the State Water Resources Agency to pay twice the normal price for electricity.

The suspect is facing serious charges of “embezzlement of property through abuse of office,” a crime magnified under the current martial law circumstances.

If found guilty, he could be sentenced to a hefty 12-year prison term.

Furthermore, authorities are considering banning him from certain positions or activities for up to three years, along with the potential confiscation of his assets.

Emma Davis

State Water Resources Agency, Ukraine

Read more similar news:

01.02.2023, 10:09 • Crime
Russian model killed after calling Putin a 'psychopath' was strangled by her ex
01.02.2023, 18:17 • Politics
Give Ukraine western fighter jets to fight Russians, urges Boris Johnson
02.02.2023, 05:21 • World
Ukrainian civilians 'made to cross minefields to find safe path' by Russian army
02.02.2023, 12:25 • Investigation
Russian tank commander takes out five of his own men in huge tank blunder
02.02.2023, 17:44 • World
Russian soldiers must be on drugs to commit 'very violent acts' seen in Ukraine
03.02.2023, 13:12 • Sport
Olympic chiefs warn Ukraine against boycotting Paris 2024 after Zelensky claim
03.02.2023, 14:56 • World
Vladimir Putin plotting ‘maximum escalation’ of war ahead of year anniversary
03.02.2023, 19:34 • World
Ukraine claims it's killed 130,000 Russian troops in year since Putin invaded
04.02.2023, 18:56 • Sport
Team GB 'unlikely' to support Olympics boycott over Russian athletes
06.02.2023, 22:30 • Politics
Speed-up UK weapons production to replace arms sent to Ukraine, warns Labour