Evaluation without inspection: expert criticizes ARMA's property evaluation procedure

The appraiser cannot determine the value of the property transferred to the Asset Recovery and Management Agency without actually inspecting it. In order to avoid violations and ensure transparency, representatives of the public council should participate in this process. This was stated in an exclusive commentary to UNN by Dmytro Hromakov, former secretary of the Public Council under the ARMA.

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Recently, the public has been raising more and more questions about the work of the ARMA, including the selection of appraisers and the procedure for evaluating seized property. Recently, the head of the ARMA, Olena Duma, said that the agency had received an appraiser's report on the value of the Gulliver shopping center in Kyiv. However, despite the requirement of the law, the register of seized property does not contain any information on the valuation of this asset. In addition, it is known that ARMA employees were not able to conduct a full inspection of the entire Gulliver shopping center and business center. After all, after the performance with the cover numbers, "mom's agents" were still forced to act in accordance with the law. Accordingly, if a full inspection of the asset has not been carried out, how can its value be objectively assessed?

Former member of the ARMA Public Council Dmytro Hromakov expressed serious concerns about the methods of valuation of property transferred to ARMA.

"First of all, you can't evaluate anything without inspecting the property, because you don't even understand whether it is property at all. That's why you need to be present to assess the property... Because you may have a hotel that says so-and-so. You arrive there - according to the documents it is a hotel, but in reality there are ruins," he said.

Mr. Gromakov emphasized that it is impossible to evaluate the property without actually inspecting it and contrary to the rules.

"This is why there is a public council that can say whether there was an assessment or not, and representatives of the public council should always be present in these commissions," the expert said.

At the same time, he said, ARMA has never invited representatives of the public council to assess the property, and now there is no such council at all.

After all, three weeks ago, all members of the ARMA's public council resigned. At the meeting, they emphasized the lack of transparency in the work of the ARMA and the fact that the agency creates artificial obstacles to the implementation of public control over its activities. They also stated that the ARMA leadership systematically ignores their appeals and does not involve them in the development of regulations, in violation of the law.

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ARMA shall manage 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, by law, entered into the Register of Seized Assets. However, the reality looks different and a good example of this is the story of concealing the valuation of the Truskavets sanatorium and the garbage trucks transferred to ARMA.

Security expert Serhiy Shabovta suggeststhat ARMA selectively publishes information on the valuation of seized property because it is beneficial to them for corrupt reasons. In his opinion, such facts should be addressed by law enforcement.

In general, statements about the non-transparent and ineffective work of the ARMA and its head, Olena Duma, have been made repeatedly. A petition calling for the dismissal of Olena Duma from her post due to her alleged ties to pro-Russian politicians and ineffective management of seized assetshas even appeared on the website of the Cabinet of Ministers of Ukraine.