Public statements of the Asset Recovery and Management Agency (ARMA) about the found foreign assets can seriously harm their return to Ukraine. This opinion was expressed by Pavlo Demchuk, Senior Legal Advisor at Transparency International Ukraine, according to UNN.
According to him, the return of assets that suspected corrupt officials have moved abroad is a challenge that Ukraine has been trying to overcome since the days of fugitive President Viktor Yanukovych. However, as the case of Tetiana Krupa, the former head of the Khmelnytsky Regional State Expert Investigation Committee, shows, this process still faces enormous difficulties.
Despite the fact that more than 150 of Krupa's properties have been seized in Ukraine, blocking her foreign assets is still a challenge. Demchuk explains that effective asset recovery requires international law enforcement cooperation, confidentiality, and legally sound steps.
Therefore, the practice of making public statements about traced foreign assets even before their seizure is a matter of concern. And the saddest thing is that such reports often come from the Asset Recovery and Management Agency, which should be primarily interested in effectively blocking such property before it is returned to Ukraine,
The TI emphasized that loud statements about the found assets before their seizure are actually a warning to the owners, which may give them time to withdraw funds to other jurisdictions.
Effective asset recovery from abroad is only possible if pre-trial investigation authorities work professionally and cooperate with each other in a high-quality manner. That is why it is important that each body focuses on its direct functions, and premature public statements about the assets found may create risks for their potential confiscation. We believe that Krupa's case and other similar stories should become an alarming marker for Ukrainian institutions dealing with such important matters as tracing property abroad and returning it to Ukraine. Because a quality result requires a lot of effort, and premature PR can undo all the work of law enforcement agencies,
Recall
Anti-corruption organizations have repeatedly criticized the ARMA for not meeting European standards. They emphasized populism, contradictory communication, and violation of the presumption of innocence by agency officials.
As you know, Olena Duma likes to promote herself on high-profile topics. She did not ignore the hot topic of the liquidation of the MSEC and hintedthat it was her efforts in 2020 that gave impetus to the exposure of corruption schemes in the commission.
In addition, Olena Duma emphasizedthat ARMA has already found a significant amount of assets in the MSEK case and is ready to manage them. At the same time, instead of reporting on real results, the Head of ARMA talked about “meetings”, “initiatives” and the need for legislative changes.