The SBU uncovered illegal activities of officials of PJSC Sumykhimprom. The offenders planned to bankrupt the enterprise, and then alienate its property in favor of private companies.

During the pre-trial investigation, the SBU established that the management took out a loan against property of enterprise. After, they spent credit money to purchase raw materials from the controlled companies at inflated prices. As a consequence, the enterprise is on the verge of bankruptcy.

According to experts, rehabilitation of the enterprise started in 2012 does not meet the requirements of the legislation and leads to the further increase of debts.

Such illegal actions resulted in debt in the amount of over UAH 2 b. (USD 74.1 m.), non-payment of dividends to the state and the actual impossibility of legal privatization of the enterprise.

Within the initiated criminal proceedings for misappropriation, embezzlement or conversion of property by malversation, SBU officers carried out the searches at offenders’ residences and offices. Law enforcement seized accounting documents and other evidence proving illegal activity.

In order to prevent the alienation of a strategic state-owned enterprise, the judicial authorities seized the property of PJSC Sumykhimprom.

Investigative actions are underway to identify all people involved in the illegal scheme.

The operation was carried out by the SBU Office in Sumy region jointly with the National Police investigators under the supervision of the Prosecutor General’s Office.