Thrifty Banker
  • Politics
  • Business
  • World
  • Investing
  • Politics
  • Business
  • World
  • Investing

Thrifty Banker

World

Ukraine arrests senior Defense Ministry official accused of embezzling $40 million

by December 24, 2023
December 24, 2023
Ukraine arrests senior Defense Ministry official accused of embezzling $40 million

A senior Ukrainian Defence Ministry official has been detained over allegations he embezzled 1.5 billion Ukrainian hryvnia ($40 million) relating to an artillery shells contract, according to the Ukrainian Security Service (SBU).

The SBU says the official signed an agreement with a special export company to purchase a wholesale batch of artillery shells in December last year.

However, a more favourable contract for the supply was later signed with the same manufacturer – one that did not involve intermediaries. The SBU said this significantly shortened the delivery time and reduced the cost of the products.

According to the SBU, the defense official extended the original – more expensive – contract and funds totalling 1.5 billion Ukrainian hryvnia ($40 million) were transferred to the accounts of an affiliated foreign intermediary firm.

The SBU says it has found documents confirming the illegal activity. The official faces up to 15 years in prison if found guilty.

The Ukrainian Ministry of Defense said it was taking measures to try to recover the funds.

According to the Head of the Press and Information Department of the Ukrainian Ministry of Defense, Illarion Pavliuk, the contract was one in which payment was made, but no deliveries had taken place. As a result, he said lawyers were looking at options to terminate the contract and recover the funds.

In September, Ukrainian President Volodymyr Zelensky fired his Defence Minister, Oleksii Reznikov, citing the need for “new approaches” amid a number of corruption scandals involving Ukraine’s Ministry of Defense.

Rustem Umerov, the former people’s deputy of Ukraine, was appointed as his replacement.

Zelensky sought to address concerns about corruption when he travelled to Washington DC and met US Senators this month. The issue has also become more pressing after the EU agreed to open membership talks with Ukraine.

This post appeared first on cnn.com
0
FacebookTwitterGoogle +Pinterest
previous post
Putin’s election plan, Navalny’s disappearance. It’s no coincidence, Russian former minister says
next post
Biden admin’s top officials attempted to ‘conceal’ Chinese spy balloon from public, Congress exposed: report

Related Posts

Portugal’s ruling center-right alliance wins election, but far-right...

May 19, 2025

Nagorno-Karabakh crisis lays bare Armenia’s deteriorating relations with...

September 21, 2023

How seaweed shaped the past and could shape...

October 22, 2023

Taiwan faces a flood of disinformation from China...

December 17, 2023

French court upholds abaya ban in public schools

September 12, 2023

Navalny’s widow accuses Putin of killing him and...

February 19, 2024

Seoul police chief indicted for negligence over Itaewon...

January 22, 2024

Mobile internet suspended as Pakistan heads to polls...

February 8, 2024

Ukraine’s hopes for victory fade in the face...

December 29, 2023

She is set to be Mexico’s first female...

June 3, 2024

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Popular

    • 1

      Understanding Lithium Mineralogy from an Investment Perspective

      September 12, 2023
    • 2

      US Capital Global Facilitates $50MM Financing to Accelerate Charbone Hydrogen’s North American Expansion

      June 6, 2025
    • 3

      A GOP operative accused a monastery of voter fraud. Nuns fought back.

      January 3, 2025
    • 4

      Israel confirms it is arming Hamas rivals in operation opposition calls ‘complete madness’

      June 6, 2025
    • 5

      China’s aircraft carriers send message in the open Pacific for the first time – and bigger and more powerful ships are coming

      June 16, 2025
    • 6

      Crypto Market Recap: Strategy Eyes US$1B Raise for Bitcoin Push, UK Regulator Reverses ETN Ban

      June 6, 2025
    • 7

      Top 10 Countries for Natural Gas Production (Updated 2024)

      April 6, 2024

    Categories

    • Business (1,066)
    • Investing (2,102)
    • Politics (2,977)
    • Uncategorized (20)
    • World (3,413)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: thriftybanker.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thriftybanker.com | All Rights Reserved