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Friday, July 15, 2016

Kyiv court arrests former director of state investment enterprise implicated in Kyoto funds fraud

Kyiv's Solomyansky District Court on July 14 remanded the former director of the state enterprise Ukrainian Ecological Investments to pretrial custody for 60 days, setting bail at UAH 5.5 million, according to the press service of the National Anti-Corruption Bureau of Ukraine (NABU).
"He [the former director] is suspected of conspiring with a group of individuals to embezzle funds, UAH 480 million, received by Ukraine under the Kyoto Protocol in line with the UN Convention on Climate Change. The actions of the suspect fall under Part 2, Article 15 (intent to commit a crime), Part 5, Article 191 (using public office for personal enrichment) of the Criminal Code of Ukraine.

NABU's press service said they had identified four individuals involved with misappropriation of the funds received by Ukraine under the Kyoto Protocol.
A criminal case was opened into the alleged misappropriation of funds on January 21, 2016. NABU on May 16 detained the secretary of the committee for state procurements at Ukrainian Ecological Investments. The second suspect was arrested in the town of Starobilsk, Luhansk region, on June 1.

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