Management of a defense plant in Ukraine stole money on armor procurement for tanks
The National Anti-Corruption Bureau of Ukraine (NABU) and the Security Service of Ukraine (SSU) uncovered a large-scale corruption scheme in the defense sector, resulting in the embezzlement of over 102 million Hryvnias (about $2.42 million) intended for the needs of the Armed Forces.
As reported by NABU and SSU, the money was stolen during the procurement of reactive armor for the AFU tanks. The scheme operated at a state-owned enterprise in Zaporizhzhia and Dnipropetrovsk regions.
The investigation revealed that in April 2022, the state-owned plant concluded a contract with the Ministry of Defense for the urgent procurement of armor kits. However, the former head of the enterprise, its commercial director, and the owner of a private contracting firm organized a scheme to acquire components at prices inflated threefold. The resulting "margin" was funneled into the shadows through a network of shell companies. As a result, over 102 million Hryvnias (about $2.42 million), earmarked for the needs of the AFU, were embezzled.
Suspicions of embezzlement of property, money laundering, and official forgery have been announced against the three organizers of the crime. Moreover, the ex-head of the defense plant is already in custody as part of another investigation concerning the production of defective mortar shells.
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