Ukrainian businessmen embezzle USD40M in war funds
Date
1/29/2024 3:40:33 AM
(MENAFN) The Ukrainian Intelligence and Security Agency has brought to light a startling revelation, disclosing that military officials and businessmen in Ukraine embezzled USD40 million from funds allocated for the purchase of weapons at the onset of the war initiated by Moscow. The embezzlement reportedly took place in August 2022, six months into the conflict, as part of a weapons procurement deal that involved the purchase of 100,000 mortar shells from abroad. Shockingly, these purchased munitions were never delivered, as detailed in a statement issued by the Ukrainian Security Service on a Saturday night.
The misappropriation of funds, amounting to 1.5 billion Ukrainian hryvnias, implicated officials within the Ministry of Defense and the Lviv Arsenal company, responsible for executing the weapon purchase. Colluding with a foreign company, the accused parties orchestrated the embezzlement scheme, raising concerns about corruption within the military procurement process.
The Public Prosecution has taken swift action, stating that a senior official from the Ministry of Defense, his predecessor, the director, and a sales officer of a Ukrainian company, along with a representative of a foreign company, have been notified of the suspicion against them. One of the suspects is already in custody after being apprehended while attempting to leave Ukraine, adding a layer of urgency to the investigation.
This revelation underscores a broader issue of corruption within the Ukrainian defense establishment since the outbreak of the war in February 2022. President Volodymyr Zelensky took decisive action in August 2023 by dismissing all regional officials involved in military recruitment due to corrupt practices, including the granting of exemptions in exchange for bribes. As Ukraine grapples with the challenges of war, combating internal corruption emerges as a critical aspect of ensuring the effective and ethical use of allocated funds for defense and national security.
MENAFN29012024000045015682ID1107779766
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.