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18.10.2017 | 18:10

New details in junk securities case

Arrested securities to the amount of UAH 40 billion belonged to companies that was controlled by a criminal group

Economic Protection Department of the National Police reports that securities held by criminal group of issuers were arrested. 

It was reported by the press service of the Department in Facebook. 

Total sum of capitalization was almost UAH 40 billion. 

Previously, officers of Economic Protection Department of the National Police and Especially Important Economic Cases Investigations Department of the General Prosecutor's Office revealed a criminal scheme of junk securities issue. 

Officers of Economic Protection Department of the National Police determined the group of entities which conducted financial transactions in the stock market. 

34 searches were conducted by the law enforcement bodies.

As for the moment, securities held by abusers are arrested. 

The criminal scheme organizers and officials of the involved stock exchanges boosted seurities of controlled issuers and sold them to the companies from real economy sector.

Securities buyers (investment funds, insurance companies) were used in criminal schemes.

Junk securities that totally amounted to more than UAH 1 billion were monthly sold by the criminal group to the real economy sector.

According to the preliminary data, the financial transactions participants gained millin profits for their services monthly. 

The law enforcement bodies seized 51 seals and documents confirming criminal activities during the searches. 

On October 12, the General Prosecutor's Office conducted searches in the premisses of the National Securities and Stock Market Commission (the NSSMC). 

After that, the press-service of the General Prosecutor's Office informed the criminal activities were revealed in the stock market of Ukraine. Criminal schemes related to junk securities of 38 issuers totally amounted to boosted capitalization of UAH 25 billion.  

References in the article: scandal, junk securities, nssmc, conflict, case, frauds, abuses
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