ARMA selectively publishes information on asset valuation: expert points to corruption motives

The Asset Recovery and Management Agency (ARMA) selectively publishes information on the valuation of seized property because it is beneficial to them for  corrupt reasons, and law enforcement agencies should respond to such facts. This was stated by security expert Serhiy Shabovta in an exclusive commentary to UNN.

"In the case of ARMA, we seem to be walking in a vicious circle. We return to the fact that ARMA is a structure in itself - an instrument of corruption and embezzlement. They have no right to hide this information. Why do they hide it - because it is beneficial for them for corrupt reasons," Shabovta said.

In his opinion, law enforcement agencies should respond to such facts as a matter of urgency.

"Many countries, by the way, have structures like our ARMA. But there, the processes they deal with are transparent and of high quality. I don't know what prevents us from creating the same transparent structure. We have enough specialists for this," the expert added.

Context

ARMA shall manage the assetsseized in criminal proceedings in order to preserve or increase their economic value. In order to preserve or increase the value of an asset, it must be valued and, according to the law, entered into the Register of Seized Assets. However, the reality looks different and a good example of this is the story of garbage trucks transferred to ARMA .

In recent years, the ARMA has accumulated a lot of property that could not only generate revenue for the state budget, but also be useful during a full-scale war. For example, most of the sanatoriums that have been transferred to ARMA could be used for rehabilitation of wounded soldiers or provide shelter to IDPs.

In addition, ARMA has a lot of heavy equipment that could be used for the benefit of the state. Excavators and bulldozers could be used to strengthen the defense or restore infrastructure, but in fact they are idle.

So the question arises as to why ARMA under Olena Duma focuses on formalities and bureaucracy instead of real asset management in the interests of the state.