700 million hryvnias in damages: SSU exposed land fraud near Kyiv

700 million hryvnias in damages: SSU exposed land fraud near Kyiv

Nears Kyiv, fraudulent actions of officials from one of the village councils involving land for construction in the Obukhiv district were uncovered, resulting in damages amounting to hundreds of millions of hryvnias.

This was reported by the press center of the Security Service of Ukraine.

As investigators found out, the officials undervalued the land by 10 times and sold it to a controlled private company. As a result, the damages are estimated at 700 million hryvnias.

A valuation entity was involved in the scheme, which prepared conclusions on the expert monetary valuation of the land plots intended for construction. According to this document, the value of the land was significantly lower than the actual one. As a result, the village council officials sold 7 plots with a total area of about 26 hectares. Only 55 million hryvnias were received into the budget. According to expert valuations, such land could have fetched about 800 million hryvnias.

In the course of the case, law enforcement officers conducted 26 searches, during which they seized documentation on the sale of land plots and financial records. A criminal case was initiated on the grounds of embezzlement.