Zelensky signs bill on criminal liability for illegal enrichment

Source : 112 Ukraine

Sanctions for improper assets in the amount of 256,576 dollars are foreseen
18:11, 25 November 2019

President of Ukraine Volodymyr Zelensky
Ukraine's Presidental Administration

President of Ukraine Volodymyr Zelensky has signed the bill #1031, which provides criminal liability for illegal enrichment in the amount of 256,576 dollars.

The article on illegal enrichment was returned to the Criminal Code of Ukraine. It provides imprisonment for 5 to 10 years with deprivation of the right to engage in a determined activity up to 3 years in case of assets’ acquisition, the cost of which exceeds the legal income by more than 258,366 dollars.

The statute of limitations on actions for 4 years is envisaged.

Related: Prosecutor's office exposes corruption scheme in Ministry of Defense

The respective cases will be considered by a panel of the Supreme Anti-Corruption Court of Ukraine (SACU) composed of three judges.

The claim in the case of recognition of the assets as unfounded and their recovery shall be filed without legal charge.

Not only unfunded assets are considered as unfounded, but also funds received at their expense - all of them are subject to confiscation or special confiscation.

As we reported earlier, the Ukrainian government may prohibit the return of banks to their previous owners. The IMF submitted the respective condition.

The respective law or amendments to the active legal frameworks may be approved soon. The outlet's source informed that the respective initiatives are being developed.

Related: National Anti-Corruption Bureau puts VAB Bank’s ex-owner on wanted list

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