The Security Service of Ukraine exposed large-scale embezzlement schemes worth 40 billion hryvnias by the former management of Ukrnafta and Ukrtatnafta companies. It was established that the illegal mechanisms were combined with tax evasion and legalization of funds obtained through criminal means.

As reported by the SBU, Ukrnafta is the largest oil producing company in Ukraine, and Ukrtatnafta is the biggest oil refinery.

Currently, 10 episodes of criminal activity have been documented within the criminal investigation. They include withdrawal of large batches of petroleum products to affiliated companies, their tax evasion, and creation of bad debts of oil refining and oil production plants, which led to devaluation and reduction of the value of their assets.

According to the investigation, such criminal activity was carried out in the interests of the actual owners and beneficiaries of the companies.

As part of the investigation, the Security Service together with the Bureau of Economic Security conducted a series of searches. They were carried out at the place of residence of the actual owners and top management of the financial and industrial group, which includes these companies, as well as at the addresses of probable storage of oil products in different regions of Ukraine.

According to the results of the investigative actions, the SBU declared suspicion to the top management of Ukrtatnafta.