During the war, nearly 17 million euros were stolen through electricity

The National Anti-Corruption Bureau (NABU) and the Special Anti-Corruption Prosecutor’s Office (SAP) concluded their investigation into a scheme where more than 16.8 million euros’ worth of electricity was unlawfully acquired. The investigation points towards the involvement of “United Energy,” a company allegedly connected to Igor Kolomoisky, in this embezzlement. Notably, these fraudulent activities took place amidst the backdrop of an ongoing war. This revelation was made public by the National Anti-Corruption Bureau.

The probe revealed that in March 2022, “United Energy,” a prominent trader in Ukraine, procured electricity from NEK “Ukrenergo” amounting to over 16.8 million euros. Despite owing debts to “Ukrenergo,” the head of the relevant department at NEK did not annul the transaction. Additionally, a commercial bank (Alliance Bank, according to its main shareholder, who refuted the accusations) provided a payment guarantee. NABU alleges that the bank’s chairman unilaterally made the decision to issue this guarantee, disregarding proper procedures.

“United Energy” subsequently sold the electricity to legitimate market participants and funneled the proceeds to a foreign company controlled by the scheme’s organizer, who is also a business associate of individuals under investigation by NABU and SAP for the misappropriation of PrivatBank funds. NEK “Ukrenergo” never received payment for the electricity supplied. When it approached the guarantor bank for repayment, it was denied,” NABU disclosed. Media outlets scrutinized financial records of “United Energy” and uncovered its ties to Kolomoisky’s enterprises. Nevertheless, Kolomoisky himself denied any affiliation with “United Energy.”