Money Laundering Scheme Shut Down by SBU in Luhansk Oblast

The SBU shut down a criminal group, involved in money laundering and financing militants of the TROLO (Certain Rayons of Luhansk Oblast that are Temporarily Occupied by pro-Russian militants and the Russian Army).

The group consisted of four citizens from Luhansk and Kyiv Oblasts, more than a dozen fictitious private entrepreneurs were involved in this illegal business. The group provided ‘services’ of avoiding Ukrainian taxes, receiving fake tax compensation from the State budget and money laundering.

The ‘clients’ included businesses from the TROLO. They did not perform additional registration, as required by Ukrainian legislation from businesses working in the occupied territory, yet they had bank accounts with Ukrainian banks.

Law enforcement operatives collected evidence that at least ₴8 million ($0.32 million) went through this scheme. The money was then cashed from bank accounts in the territory controlled by Ukraine and transported to the TROLO. Part of the money was used to finance armed militants.

During the searches and seizures in Sievierodonetsk and Lysychansk, the SBU confiscated accounting and tax documentation and seals of more than 30 fake companies that were involved in the scheme. A total of 130 bank accounts of these companies in four different banks were frozen, totaling ₴2.5 million  ($0.1 million). Criminal proceedings under Part 3 Article 258-5 of the Criminal Code of Ukraine (Financing of terrorism) were launched.

Source: Ukrayinska Pravda