The son of the former president of the Motor Sich corporation, Vyacheslav Boguslaev, Alexander Boguslaev, who, together with his father, appears in a embezzlement case, was detained in Monaco.
This was reported by the SBU.
The Security Service of Ukraine and the Prosecutor General's Office have uncovered a large-scale scheme to embezzle assets from Motor Sich JSC. The investigation revealed that the suspects illegally appropriated a controlling stake in the state-owned enterprise and then sold it for $650 million.
"Following the results of the work of the joint investigative group of the SBU and the UCP, law enforcement agencies of the Principality of Monaco and the French Republic, the son of the ex-president of Motor Sich was detained in Monaco, who, together with his father, is suspected of embezzling the assets of the industrial giant," the SBU wrote.
It is known that the detainee helped his father appropriate the company's shares before the start of the full-scale war, and then sell them to third parties. To implement the scheme, the then head of Motor Sich organized an inventory of the company's assets and artificially understated the value of its shares, purchased 65% of the securities at a significantly reduced price and transferred most of them to six offshore structures owned by his son.
The press service explains that to legalize the stolen assets, they used a scheme of selling them to foreign companies, and used the profits to purchase luxury real estate in the EU.
"During the international investigation, simultaneous searches were conducted at the detainee's residence at a coastal villa in Monaco and at the residences of affiliated individuals in Zaporizhia," the report notes.
SBU investigators informed the son of the ex-president of Motor Sich of suspicion under Part 3 of Article 209 of the Criminal Code of Ukraine (legalization (laundering) of property obtained by crime, committed by an organized group on a particularly large scale). The punishment provides for up to 12 years of imprisonment with confiscation of property.
A new suspicion has been announced against the ex-leader of Motor Sich, who is currently in custody on charges of collaborating with the Russian Federation. His crimes have been additionally qualified under several articles of the Criminal Code of Ukraine:
- Part 5 of Article 191 (embezzlement of property through abuse of official position, committed on a particularly large scale by an organized group);
- Part 3 of Article 27, Part 3 of Article 209 (organization, legalization (laundering) of property obtained by crime, committed by an organized group on a particularly large scale).
As a reminder, earlier the Security Service of Ukraine prevented the murder of activist and volunteer Serhiy Sternenko and detained the attacker.