SBU conducts searches at Ukraine’s National Securities Commission

On the morning of June 3, the SBU conducted searches at the National Securities and Stock Market Commission (NSSMC).

This was reported by Ekonomichna Pravda, citing sources in the market and within the commission itself.

According to the publication’s sources, law enforcement officers were looking for “old documents of certain collective investment institutions.” Which ones exactly was not specified. A former member of the NSSMC is named in the criminal proceedings being investigated by the SBU — one who served during the tenure of Ruslan Magomedov as head of the regulator.

The name of this commission member is not given in the publication: journalists were unable to confirm or deny the information directly with him. At the same time, according to media reports, searches were also conducted at his home.

As a separate episode, the article mentions searches carried out by the SBU on May 20 at the directorates of the National Police in Ivano-Frankivsk, Ternopil, and Zhytomyr oblasts. According to investigators, the leadership of the territorial police units in those regions may have ensured the unimpeded operation of a network of so-called “porn offices.” The aim of the operation was to identify all officials involved in the scheme and to legally assess the actions of the police commanders.

According to the prosecutor’s office, the intermediary in the scheme was the driver of one of the deputy ministers of internal affairs of Ukraine. Using his connections among senior National Police personnel, he negotiated with officials to ensure non-interference in the operation of the “porn offices.” In exchange for a monthly payment, police commanders ignored the violations, did not record them, and gave advance warning of inspections. The “subscription fee” amounted to approximately €17,000 for the unit’s leadership and a further approximately €4,000 for the intermediary.