10 million bail: The High Anti-Corruption Court has imposed a preventive measure on Shyiko, a senior official at Ukroboronprom

10 million bail: The High Anti-Corruption Court has imposed a preventive measure on Shyiko, a senior official at Ukroboronprom

The Higher Anti-Corruption Court has set bail at 10 million hryvnias for Taras Shyiko, Deputy Director General of «Ukroboronprom», who has been notified of suspicion of embezzlement and legalization of over 32 million hryvnias through fictitious agency agreements with foreign firms.

Taras Shyiko has been notified of suspicion of embezzlement and money laundering through agency contracts with companies registered in the United Kingdom and the Czech Republic. At the time of the crime, Shyiko held the position of director of the state export enterprise «Progress».

According to the investigation data, in 2014–2019, the suspects entered into scheme-based agency agreements with foreign companies for the provision of intermediary services, although the actual work was performed by employees of the state enterprise. Despite the absence of actual services, these companies received over 560 thousand dollars (~13.3 mln UAH) and almost 670 thousand euros (~19.3 mln UAH). The money was transferred to the accounts of fictitious firms and distributed among the scheme participants.

The former advisor to the director of «Progress» and the beneficiary of a private company also received suspicion; according to NABU and SAPO, they were involved in the scam. The investigation has established the total amount of embezzled funds at 32 million hryvnias.