Ukrainian authorities seize €4.7 million in cash from army contractor

Source: Bureau of Economic Security, Glavkom

Ukraine’s Bureau of Economic Security has seized over €4.7 million in undeclared cash linked to a company supplying food to Ukraine’s defense. The company’s accountant whose car was carrying the stacks of cash failed to explain where the money comes from.

The company, which allegedly inflated prices and fabricated transactions, has been under the microscope over its  2022-2023 contracts. They supplied the military food products worth 14.5 billion hryvnias, but it turns out their financial practices were anything but transparent. During raids, authorities seized documents and illicit accounting records.

The company representatives complained about the situation calling it ‘pressure’.  The names of the suspects and the company involved remain undisclosed though a Lviv-based firm, “Mit Prom,” has recently voiced similar concerns about alleged investigative pressures.