The owner of an energy distribution company and three officials are suspected of embezzling 68 million hryvnias. The funds were siphoned off through a fictitious advisory position with a salary of millions.
The owner of an energy distribution company in northern Ukraine and three of its officials have been notified of suspicion of large-scale financial fraud. They are suspected of embezzling nearly 68 million hryvnias. According to investigators, the funds were siphoned off through a fictitious advisory position. This was reported by the Prosecutor General’s Office, UNN reports. The portal PromPolitInform reports.
“Prosecutors from the Prosecutor General’s Office have charged the beneficial owner of an energy distribution company in northern Ukraine and three of its officials with embezzling UAH 68 million (Part 5, Article 191 of the Criminal Code of Ukraine). The money, which could have been used to strengthen the Sumy Oblast power grid, was used to pay a ‘fictitious advisor,'” the statement reads.
According to investigators, the company’s owners created a scheme to avoid paying dividends to the state and siphon off the company’s funds. One of them, who was sanctioned by the National Security and Defense Council in 2025, registered as an advisor to the company’s head.
The terms were as follows: UAH 1 million in monthly salary, remote work, and an actual workload of approximately four hours per week.
“His salary exceeded the maximum level established by the National Commission for State Regulation of Energy and Public Utilities by five to seven times.” Between 2020 and 2024, the company suffered losses of almost UAH 68 million, as confirmed by expert studies. The issue of pretrial detention for the suspects is currently being considered,” the statement noted.
