In Transcarpathia, the Security Service of Ukraine unmasked the mechanism of state funds embezzlement during of sales of timber
Officers of the Security Service of Ukraine exposed in Transcarpathia the mechanism of embezzlement of funds by a commodity exchange during the sales of state forestry enterprises products.
Under the current legislation, state forestries sell raw timber through auctions organized by the commodity exchange. Bidders transfer to the organizer a guarantee fee in amount of 5% of the initial price of the lot. After the bidding, this amount must be transferred to forestries.
Officers of the Security Service found out that in January-July 2015, almost one hundred and ninety million hryvnia worth of untreated wood was sold at the auctions. The amount that the commodity exchange must have transferred to forestries is UAH 9.5 million. Instead, part of these public funds was used for the needs of the commodity exchange and its employees, and the rest was accumulated on private bank deposits.
The criminal proceeding under Part 4 of Art. 191 of the Criminal Code of Ukraine was opened.
Operational-investigative activities continue.