International Fraud Scheme Organizer Exposed in Kryvyi Rih for Nearly 7 Million UAH
Kyiv • UNN
A 38-year-old man established a fake company and sold non-existent metal to foreigners. The perpetrator misappropriated 7 million hryvnias and is currently in custody.
In Kryvyi Rih, law enforcement officers exposed a 38-year-old man suspected of organizing an international fraudulent scheme to seize funds from foreign companies. This was reported by the Office of the Prosecutor General, according to UNN.
Details
Prosecutors, together with law enforcement officers, served a notice of suspicion to a 38-year-old resident of Kryvyi Rih who organized a scheme to seize funds from foreign enterprises under the guise of representing a well-known metallurgical company in the city,
According to the investigation, the suspect, along with accomplices, created a fictitious foreign intermediary company for trading metallurgical products.
The participants of the scheme forged contracts and quality certificates, and also simulated the existence of production facilities and personnel,
The agency added that in 2022, two EU companies entered into contracts with the suspects and transferred "180,000 US dollars and 90,000 euros – totaling almost 7 million UAH." After that, according to the investigation, the received funds were withdrawn and distributed among the participants of the scheme.
The organizer was served a notice of suspicion for fraud on an especially large scale. On May 14, the court ordered a preventive measure – detention with the possibility of posting bail in the amount of 5.3 million hryvnias. Law enforcement officers are currently identifying other participants in the scheme.