The SSU has exposed offenders involved in large scale tax evasion following sale of an agricultural firm in Sumy region, which owned 6,500 hectares of land.

According to the experts’ conclusion, the fraudulent transaction led to UAH 66.2 mln (USD 2.4 mln) loses to the state budget of Ukraine.

The courts have seized the property and funds of the offenders to compensate the damage caused to the state.

Investigation is underway to identify and prosecute all individuals involved in the illegal activity.

According to the investigation, management of regional agricultural companies sold their enterprises for over UAH 350 mln (USD 12.6 mln). But instead of paying UAH 66.2 mln (USD 12.6 mln) of taxes, the offenders decided to hide their revenue. To do this, they allegedly invested UAH 66.2 million in specially created companies. These funds were then passed through a number of shell companies and finally laundered through purchase of luxury real estate and premium cars.

During the searches of the suspects’ offices and homes, the law enforcement seized:

• official documentation and draft accounting;
• mobile phones and computers;
• bank cards with evidence of illegal activity.

As part of criminal proceedings, the organizer of the scheme was notified of suspicion of money laundering and tax evasion.

The SSU Office in Sumy region carried out the operation together with the National Police investigators and the State Tax Service under the supervision of the Prosecutor General’s Office.