The Security Service of Ukraine blocked an attempt to illegally alienate property of Ukrainian Danube Shipping Company PJSC (UDP) by the company's top management. The organizers’ actions could have caused losses to the company amounting to more than UAH 2 billion (USD 71,4 m).

The SBU established that the scheme was organized under the guise of "reorganization" of the shipping company. The suspects planned to take off 455 fleet units from the company's balance sheet, including sea and river vessels and barges. The suspects’ actions were in the interests of a foreign commercial company.

The organizers were also planning to “invest” the funds of the UDP’s branches and affiliated companies in the statutory fund of a foreign company.

To implement the illegal scheme, the suspects deliberately provided the relevant Ministry with documentation on zero value of 455 fleet units. The Ministry’s approval gave the opportunity to freely dispose of the state property.

Moreover, the officials’ actions could damage the state's defense capabilities.

Law enforcement officers conducted a number of searches of the UDP’s offices and at the suspect’s residences. During the searches the SBU seized:

• computer equipment and electronic media;
• documentation on the activities of offshore shipping companies;
• contracts of foreign economic activity for repair of watercraft;
• documents on the establishment of offshore companies and financial statements.

The seized evidence was attached to the case file. A large amount of cash in foreign currency was also found.

The investigation is ongoing upon the facts of high treason and misappropriation, embezzlement or conversion of property by malversation.

The operation was conducted by the SBU Office in Odesa region under the coordination of the SBU Main Directorate for Counterintelligence Protection of the State's Economy under the supervision of Odesa Region Prosecutor's Office.