The billionaire is suspected of creating and managing an organized criminal group, intentional tax evasion, and legalisation of property obtained through criminal means.

Since 2012, Shelkov has owned a mining-enrichment plant (MEP) - one of the world's largest titanium producers, which was part of the Russian state corporation 'Rostec.'

In 2020-2021, the oligarch involved citizens of Ukraine, Austria, and Russia in criminal activities. They concluded a series of contracts between the plant and an Austrian company for the supply of titanium-containing raw materials used in the production of military and dual-use goods.

The documents deliberately contained understated prices - the difference with the actual cost was almost UAH 78 million. This led to the non-payment of income tax in the amount of over UAH, 14 million.

It has also been established that the products were not supplied to the recipient's address in Austria, but directly to the actual recipients, including Russian defense companies .

For the received raw materials, they paid the full amount to the foreign company's accounts. In this way, over UAH 96 million was withdrawn and legalised in the EU.

The pre-trial investigation in the criminal proceedings is ongoing. Operational support is provided by the Security Service of Ukraine. Procedural guidance is provided by prosecutors  of the Prosecutor General of Ukraine.

As a reminder, in 2022, sanctions were imposed on Shelkov and related legal entities. The ESBU detectives ensured the arrest of corporate rights and the entire property complex, vehicles of the mentioned mining-enrichment plant, as well as the funds held in the company's bank accounts.

Jointly with prosecutors of the the Prosecutor General of Ukraine, and the Ministry of Justice, by the decision of the Appellate Chamber of the Higher Anti-Corruption Court, this property and assets have been confiscated for the benefit of the state.

The plant is owned by Ukraine and managed by the State Property Fund of Ukraine.

Note: According to Article 62 of the Constitution of Ukraine, a person is presumed innocent of committing a crime and shall not be subjected to criminal punishment until his or her guilt is proved in accordance with the law and established by a court verdict.