UAH 53 million bypasses the budget: investment fund director notified of suspicion

 Detectives of the Territorial Office of the ESBU in Kyiv have served a notice of suspicion to the director of a joint-stock company that financed the construction of residential and non-residential complexes across various regions of Ukraine.

The investigation established that between 2019 and 2023, the head of the fund organized a scheme to evade income tax. To achieve this, financial reports included non-existent transactions with enterprises showing signs of being fictitious or transit entities.

According to preliminary data, the director entered into formal contracts lacking real substance and transferred funds totaling nearly 300 million UAH. These actions allowed for the artificial reduction of the taxable base.

Furthermore, it was established that in 2020, 48 real estate properties were sold, but the resulting income was not reflected in tax reporting.

The basis for entering the information into the Unified Register of Pre-trial Investigations was an analytical product from the Information Analysis and Risk Management Department of the ESBU Territorial Office in Kyiv.

According to the findings of a forensic economic expert examination, the total amount of damages caused to the state exceeds 53.3 million UAH.

The director was notified of suspicion in absentia under Part 3 of Art. 212 of the Criminal Code of Ukraine (intentional tax evasion on an especially large scale).

The pre-trial investigation is ongoing. ESBU detectives are working to identify the full circle of individuals involved in the commission of the criminal offense.

Procedural oversight is carried out by prosecutors of the Kyiv City Prosecutor's Office.

In accordance with Art. 62 of the Constitution of Ukraine, a person is presumed innocent of a crime and shall not be subjected to criminal punishment until their guilt is proven in a legal manner and established by a court's guilty verdict.