In Zhytomyr region, SBU blocked the activities of the interregional conversion center with a turnover of almost UAH 200 million (USD 6,896,552).

Allegedly, SBU officers established that the conversion center was created by two major agricultural manufacturers. They, using the details of more than 15 shell companies, laundered illegally obtained funds received from product sales without reflection in the official documents. To transfer money into cash, the offenders involved 25 false self-employed individuals.

According to experts, during 2018-2020, the suspects withdrew funds into the shadow turnover for almost UAH 200 million (USD 6,896,552). The exact amount of the state losses is being settled.

During searches of the offenders’ offices, residences and vehicles, law enforcement officers seized more than 1.4 million of “legalized” funds, over 20 seals of dummy companies, accounting records, as well as computers with documents and accounting fraud proving unlawful activities.

The investigation is ongoing in the framework of the criminal proceedings initiated for criminal offense committed by a group of persons upon prior conspiracy, sham business and evasion of taxes, duties or other mandatory payments. The attachment of bank accounts of the shell companies and the suspects’ property are being taken to compensate for the losses to the state budget.

The operation was conducted by the SBU Office in Zhytomyr region with the Main Directorate of the State Fiscal Service in Zhytomyr region under the procedural supervision of the Zhytomyr Region Prosecutor's Office.