Detectives of the Economic Security Bureau of Ukraine in Kyiv region have liquidated a large-scale shadow transaction scheme in the agricultural sector. More than 60 fictitious companies were involved in the illegal activities.
This was reported by Economichna Pravda citing the Telegram channel of Economic Security Bureau of Ukraine, according to the portal PromPolitInform.
The organizers of the scheme used shell companies to convert funds into cash and virtual assets. This allowed real sector businesses to conceal actual income and evade mandatory tax payments.
Income concealment mechanism
Agricultural products were purchased for cash without being recorded in official accounting. Subsequently, to sell these goods domestically or abroad, a fictitious history of origin was created and the product characteristics were altered.
Part of the withdrawn money was converted into digital assets. In this way, the perpetrators attempted to bypass financial monitoring measures and hide funding sources.
Investigation and cooperation
Currently, investigative actions are ongoing, and a list of entities that utilized the services of the center is being established. Specialists from the Cyberpolice Department are involved in the case, and procedural supervision is being conducted by the Kyiv Regional Prosecutor’s Office.
Photo: Economichna Pravda
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