SBU blocked the activity of large-scale conversion centre, which cashed out money, including funds of state-owned enterprises.

The pre-trial investigation established that the conversion center had been functioning since January 2019. On the “clients” orders, the suspects carried out bogus financial and business operations for conversion of money into cash and for tax evasion purposes.    More than 60 commercial entities of the real economy sector and a range of state and municipal enterprises in Zaporizzhya, Dnipropetrovsk and Sumy region were the “clients” of this center.

Allegedly, UAH 55,000,000 (USD 2,300,000) were cashed out from the state budget. Due to non-payment of taxes and other charges the state suffered losses amounting to UAH 20 million (USD 800,000).

During the 13 simultaneous searches of the conversion center office and the suspects’ residences, the law enforcement seized 16 seals of subordinate companies, accounting and bank documentation, drafts, computers and means of communication. 

Also three “botfarms”, set up by the conversion center organizers, were revealed during the investigation. Allegedly, “botfarms" were used for the mass distribution of destructive publications in social networks and messengers, mailing of false reports of "mining" and other actions aimed at destabilization of  the social situation in Ukraine.

The issues of bringing to justice the organizers of the conversion center and managers of the “client”-entities, as well as compensating the losses to the state budget are being settled.

The investigation is ongoing in order to establish all the details of the case and persons involved in the unlawful activity.

The operation was conducted jointly with the investigators of the State Bureau of Investigations Territorial Administration in Melitopol city under the supervision of the the Prosecutor's Office of Zaporizzhya region in pursuance of instruction of the President of Ukraine to counteract the shadow economy.