Monday, October 26, 2020

SBU closes money laundering center with turnover of hundreds of millions of hryvnias


The Security Service of Ukraine (SBU) has stopped the activities of an interregional money laundering center with a total turnover of hundreds of millions of Ukrainian hryvnias, the SBU press center has reported.

“Employees of the Security Service of Ukraine have stopped the activities of a powerful interregional money laundering center with a total turnover of hundreds of millions of Ukrainian hryvnias,” the report said.

It notes that the operatives found out that the organizers of the group from Kyiv and Poltava had created a mechanism for “shadowing” the funds of a number of business entities.

The culprits “rendered services” to entrepreneurs to minimize the tax burden. The mechanism of embezzlement of budget funds was organized through the use of controlled firms in the real sector of the economy and enterprises with signs of fictitiousness.

Read MoreUkraine Probes Ferrexpo Charity Over Possible Money-Laundering

- Advertisement -

“During authorized investigative acts conducted in the offices of the center, at places of residence and in the cars of the suspects, law enforcement officers found seals of a number of fictitious companies, means of communication, laptops, tax reporting and documentation that proves the conduct of financial transactions, as well as more than UAH 2.6 million in cash,” the press center said.

According to the report, the operation to detect and block illegal actions was carried out by employees of the SBU’s main department for combating corruption and organized crime jointly with the SBU’s main investigation department and under procedural control of the Prosecutor General’s Office.

- Advertisement -
- Advertisement -


Julius Baer to deny two former CEOs their bonuses over money laundering scandal

Julius Baer will withhold millions of francs in bonuses from its former chief executives Boris Collardi and Bernhard Hodler, as a result of a...

Goldman Sachs executives to cover part payments of $3 billion fines in 1MDB scandal

Nine current or former Goldman Sachs executives, including CEO David Solomon, will have to pay back hundreds of millions of dollars in compensation over...

Goldman Sachs agrees $3 billion settlement with US DoJ over 1MDB corruption scandal

Goldman Sachs has agreed to pay nearly $3bn (£2.3bn) in the US to end a probe of its role in Malaysia's 1MDB corruption scandal. The...

Hong Kong fines Goldman Sachs $350 million over 1MDB scandal

Goldman Sachs ignored multiple red flags over the multibillion-dollar fundraisings it arranged for state fund 1Malaysia Development Berhad, Hong Kong’s financial regulator said on...

Texas attorney general Ken Paxton fires top aide who accused him of bribery

Lacey Mase, one of the top aides who accused Texas Attorney General Ken Paxton of crimes including bribery and abuse of office, has been fired, she told The...

Subscribe For More

Get our daily notification on the latest financial crimes news around the World


Latest News

This Week

Mozambique seeks prosecution of ex-Credit Suisse bankers implicated in debt scandal

Mozambique's Attorney General's Office said on Wednesday it will seek the extradition of three former Credit Suisse CSGN.S bankers implicated in a $2 billion debt scandal...

Judge opposed dismissal of bribery charge against former Portage mayor Synder

A judge denied Thursday two motions to dismiss a soliciting bribes charge former Portage Mayor James Snyder will be retried on, according to court...

Newark city councilman charged in bribery and kickback scheme

Joseph A. McCallum Jr., a city councilman in Newark's West Ward, has been accused of taking part in a "bribery and kickback" scheme involving...

Guatemala seeks arrest of ex-minister linked to a $16m cash discovery

Guatemalan prosecutors are seeking the arrest of the former communications minister for ex-President Jimmy Morales on money laundering charges after finding a connection to...

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.

Enable Notifications    Ok No thanks