Former executives of Ukrainian oil company placed on Interpol wanted list over UAH 5.8 bln embezzlement – National Police

Former top executives of one of Ukraine's largest oil refining corporations have been placed on Interpol's international wanted list over the embezzlement of UAH 5.8 billion, Ukraine's National Police reported.

"The official formed a criminal organization involving his deputy, the head of a department, and six businesspeople. Investigators from the Strategic Investigations Department determined that companies under the scheme, controlled by the organizer, entered into supply agreements with the oil refining corporation for petroleum products, but never paid for the goods. Instead, they laundered the proceeds through foreign bank accounts," the police said in a statement on their website Tuesday.

Previously, all nine members of the organized group were charged with misappropriating property by abuse of office, committed by an organized group on a particularly large scale (Part 5 of Article 191 of the Criminal Code of Ukraine). Police also froze securities accounts held with a French investment company linked to the former board chairman, along with corporate rights to several enterprises.

Now, the Main Investigative Department has placed six of the suspects on both national and international wanted lists. With the assistance of the Department of International Police Cooperation (Interpol's National Central Bureau in Ukraine), Red Notices have been issued via Interpol's General Secretariat. This means that once the suspects are located in any country adhering to Interpol protocols, they will be arrested and extradited to Ukraine, where they face up to 12 years in prison with asset confiscation.

The police report does not name the company involved, but a law enforcement source told Interfax-Ukraine that the case concerns Ukrtatnafta.