A criminal mechanism at JSC Ukrgazvydobuvannya, which caused over UAH 295 million ($6.7 million) in losses to the state, was neutralized following comprehensive measures.
Ukrgazvydobuvannya officials and affiliated entrepreneurs were the organizers of the scam, according to law enforcement officers.
The scheme involved embezzling funds allocated for state company procurement, achieved by artificially inflating the cost of materials needed for gas extraction. Private companies controlled by the suspects bought chemical additives and other products from manufacturers and official suppliers in Ukraine at market prices, and then sold them to Ukrgazvydobuvannya at prices inflated by two to three times. The profit from these machinations was later distributed among the scheme participants, SBU reported.
These actions caused the state company over UAH 295 million in losses, forensic economic examination showed.
Law enforcement officers have served notices of suspicion to the head of a private company and Ukrgazvydobuvannya official who organized the procurement tender under Article 191 of the Criminal Code of Ukraine (misappropriation, embezzlement, or seizure of property through abuse of office; the sanction provides for up to 12 years in prison). The issue of choosing pre-trial restrictions for them is currently being decided.
The pre-trial investigation is ongoing, and comprehensive measures are being taken to bring all participants of the scheme to justice, SBU added.