More than UAH 630 million stolen: a shadow financial network uncovered in Ukraine

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The Prosecutor General’s Office and the Economic Security Bureau uncovered a network exchanging currencies and digital assets without licenses. Following more than 30 searches, funds totaling UAH 630 million were seized.

The Office of the Prosecutor General, together with the Economic Security Bureau, exposed a large-scale shadow financial network which, according to the investigation, was used to evade taxes and launder proceeds of crime. This was reported by the press service of the OPG, according to UNN.

Details

According to the investigation, the criminal network operated throughout Ukraine. Its participants exchanged cash currency and digital assets, as well as transferred funds within the country and abroad. The scheme’s participants called such operations "rearrangements."

The financial operations were carried out without the necessary permits, while the income received was not reflected in accounting or tax records. The network operated from premises of unlicensed currency exchange offices using a well-known trademark. At the same time, the necessary permits to conduct the relevant currency exchange operations were absent

- the OPG said in a statement.

Also, according to the investigation, more than 30 searches were conducted in 16 regions of Ukraine. Law enforcement officers seized cash in various currencies, including Russian rubles, totaling more than UAH 630 million equivalent.

Cash, phones, equipment, and unofficial accounting records—that is only what can be seen in the footage. Behind it are months of analysis, establishing connections, and the work of detectives

- said Oleksandr Tsyvinskyi, Director of the Economic Security Bureau.

We remind you

Earlier, UNN reported that another participant in a fraudulent "bookmaker" scheme from Kryvyi Rih had been extradited to Ukraine.

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