Feedback

Stadium in Sumy sold 50 times below market value, law enforcers open criminal proceedings

Source : 112 Ukraine

Law enforcers suspect the deputy chief of Department of the State Executive Service of the Main Territorial Department of Justice in the Sumy region of abuse of power
16:12, 8 September 2021

General Prosecutor's Office

In Sumy, an official put the stadium up for the auction and independently determined the cost of the facility without a specialist. Thus, the stadium was sold 50 times cheaper than the market value, which caused losses of $14.4 million. This was reported by the press service of the Prosecutor General's Office.

“It was reported that the Deputy Head of the State Executive Service of the Main Territorial Department of Justice in Sumy region is suspected of abuse of power (Part 3 of Article 365-2 of the Criminal Code of Ukraine),” the statement reads.

Related: Podilskyi Bridge contractor in Kyiv informed about suspicion of tax evasion

According to the investigation, on the basis of enforcement proceedings to recover debts from Sumy Machine-Building Research and Production Association in favor of a group of debt collectors the official issued a decision to seize the debtor's share, including the Yuvileiny Stadium. However, before submitting the application for the sale of property at the public sale, the state executor did not involve a specialist to assess it, as he was supposed to, but independently determined its value below the market price.

Thus, at the end of 2020, the limited liability company purchased the stadium for $304,000, although its market value is almost $15 million.

“The actions of the official caused Sumy Machine-Building Research and Production Association $14,4 million of losses,” the prosecutor's office added.

Related: Ukrainian Security Service exposes scheme on purchase of low-quality parts for Ukrainian Railways

Topics:
Система Orphus

If you find an error, highlight the desired text and press Ctrl + Enter, to tell about it

Comments
see more