NABU and SAP uncover embezzlement of over $43 million at state enterprise Ukrspetseksport

The National Anti-Corruption Bureau of Ukraine (NABU) and the Specialised Anti-Corruption Prosecutor's Office (SAP) have identified the embezzlement of funds from the state enterprise "Ukrspetseksport". According to the investigation, the damages inflicted on the state enterprise exceed 43 million US dollars, equivalent to more than 1.1 billion hryvnias.

How the scheme worked

According to the case materials, the events began in 2015. At that time, the then-head of the state enterprise concluded an agreement with a foreign company for the provision of intermediary services. This contract provided for remuneration for facilitating the sale of Ukrainian military products to a buyer from a Middle Eastern country.

However, the actual situation differed from the declared one. Representatives of "Ukrspetseksport" conducted negotiations with the foreign client personally, without involving the aforementioned intermediary. Despite the lack of real participation by the intermediary firm in the process, in 2018–2019 the head of the enterprise signed documents certifying the alleged performance of services.

Financial consequences

Based on these documents, the transfer of funds to the account of the foreign company was organised. The investigation established that these actions resulted in damages to the state enterprise amounting to over 43 million dollars. This sum constitutes 30% of the total value of the contract.

According to information obtained from sources, Pavlo Barbul, who previously held the position of head of SE "Spets Tekhnoeksport", is the suspect in the commission of the crime.