Ukrenergo is embroiled in a financial scandal involving the embezzlement of over 17 million euros

Despite the outstanding debt owed by the company to the public, the head of the relevant Ukrenergo department chose not to cease the electricity sales. The payment was guaranteed by one of the commercial banks and the decision to issue this guarantee was made personally by the chairman of the board. This is a clear violation of established procedures.

According to the National Anti-Corruption Bureau (NABU), the electricity acquired by United Energy was resold on the market and the proceeds were funneled into the accounts of a foreign company under the control of the scheme’s organizer. Notably, Ukrenergo did not receive payment for the electricity. Subsequently, when demanding settlement of the debt from the guarantee bank, they faced a refusal.

The key figures implicated in the scheme include the organizer, the director of the Ukrenergo department, the chairman of the board of the commercial bank and the director of the private company. The accounts of the companies involved in the scheme, totaling over 17 million euros, have been subjected to asset freezes.