International grain trader employee charged in USD 60 mln fraud case

The Specialized Anti-Corruption Prosecutor's Office (SAPO) handed down an indictment to Pechersk District Court of Kyiv against an employee of the international grain trader who assisted the company in the abstraction of grain products owned by the State Food and Grain Corporation of Ukraine (SFGCU) worth USD 60 million.

“It is established in the pre-trial investigation that during July-October 2014 a Hungarian citizen assisted the international grain products trader in the seizure of the SFGCU commodities valued at more than USD 60 million,” the report states.

Later, the money made on the sale of grain in the amount of more than USD 40.9 million was legalized by the accused through a number of foreign companies registered in offshore jurisdictions.

By the report, conditions were created for the seizure of grain products, as the SFGCU officials were promised to provide illegal benefits in the amount of USD 667 thousand.

“Currently it is the fourth person in this investigation against whom the indictment was sent to the court. Now, NABU detectives and SAPO prosecutors are taking measures to bring to justice other persons hiding from law enforcement agencies abroad,” the SAPO noted.

Note: Fraud committed in respect of an especially gross amount, or by an organized group, — shall be punishable by imprisonment for a term of eight to fifteen years and forfeiture of property (Article 190. Part 4 of the Criminal Code of the Republic of Ukraine).