Vice PM Chernyshov is suspected in a scheme involving the undervaluation of land by one billion hryvnias

Vice PM Chernyshov is suspected in a scheme involving the undervaluation of land by one billion hryvnias

According to the investigation, former head of the Ministry of Regional Development Chernyshov facilitated an illegal acquisition of a land plot in Kyiv for a residential complex by a capital developer.

As per the agreement, the developer was supposed to transfer part of the apartments to the state. However, the land was valued almost five times cheaper than the market price, leading to state losses of about 1 billion hryvnias.

In response, Chernyshov allegedly received a discount from the developer on apartments in already constructed residential complexes for a total of over 14.5 million hryvnias. Currently, most of these apartments are under arrest.