The SSU has exposed the management of Zaporizhzhia electrical equipment plant, owned by russian oligarch Konstantin Grigorishin until November 2022, on causing large-scale losses to the Ukrainian budget.

According to the investigation, during 2018-2021, the plant’s top management organized a scheme to withdraw budget funds in the form of non-payment of land tax.

As a result, the state lost more than UAH 43 million (USD 1.1 million). Subsequently, the organizers transferred this amount to the accounts of Grigorishin’s holding companies in russia.

To disguise the illegal ‘transactions’, the managers presented them as repayment of the plant’s financial obligations to the oligarch’s companies.

To implement the unlawful scheme, they artificially lowered the coefficient for paying the land tax. To do this, false information was given in the financial and business records and reporting documents.

The fraud was exposed before russia’s full-scale invasion. Then, the SSU initiated forensic economic examinations.

The experts’ conclusions have now confirmed the suspects’ criminal activities.

Based on the collected evidence, the company’s financial director and chief accountant have been notified of suspicion under the following Articles of the CCU:

• 28.2, 212.3 (tax evasion, committed by an enterprise official on a particularly large scale, upon prior conspiracy);
• 28.2, 366.1 (forgery, committed by a group, upon prior conspiracy).

The investigation is ongoing.

In 2022, by decision of the National Securities and Stock Market Commission, this enterprise became state-owned for the period of martial law as a strategic industrial facility of Ukraine.

The investigation was carried out by the SSU Office in Zaporizhzhia region jointly with the National Police under the procedural supervision of the regional Prosecutor’s Office.