ESB uncovers UAH 23.5B cash-conversion scheme
Director of the Economic Security Bureau (ESB) Oleksandr Tsyvinskyi said a so-called “cash-conversion center” had been uncovered, with total financial transactions amounting to UAH 23.5 billion.
As reported by Ukrinform, ESB Director Oleksandr Tsyvinskyi announced this on Telegram.
“This is one of those cases when the day did not go according to plan at all for the participants in the criminal scheme. We are talking about ‘cash conversion’ operations with an estimated monthly turnover of almost UAH 500 million. Since 2023, UAH 23.5 billion has ‘passed through’ them. Tax evasion may amount to about UAH 3 billion,” Tsyvinskyi said.
According to him, 50 searches were conducted in Kyiv, Kharkiv and Odesa as part of the case. Millions of hryvnias in unaccounted-for cash were seized. The suspects have already been served with notices of suspicion.
The ESB said the special operation was carried out in cooperation with the State Border Guard Service and Cyber Police.
As reported, last week detectives from the ESB Territorial Office in the Volyn region completed an investigation into an attempt to illegally import more than 16 tons of food supplements worth nearly UAH 58 million into Ukraine under the guise of humanitarian aid for the Armed Forces of Ukraine.
Photo: Prosecutor General’s Office of Ukraine