A shadow network of exchange offices exposed in Ukraine: a record 630 million UAH seized
The Economic Security Bureau and the Office of the Prosecutor General announced the exposure of a large-scale shadow financial network that operated throughout Ukraine. During the searches, law enforcement officers seized over 630 million UAH in various currencies - the ESB called it the largest cash seizure in the Bureau's history.
The results of the operation were reported by ESB Director Oleksandr Tsyvinskyi and the Office of the Prosecutor General.
According to the investigation, through the network they exchanged cash currency and digital assets, and also transferred funds between regions of Ukraine and abroad. Such operations within the network were called "перестановки". Financial operations were carried out without the necessary permits, and income was not reflected in accounting and tax records.
Law enforcement officers claim that for their work they used premises of unlicensed currency exchange points that operated under a well-known brand. Under the guise of ordinary exchange offices, they also conducted operations with digital assets.
According to the ESB, through this system tens of billions of hryvnias were withdrawn from legal circulation annually. The investigation is checking the use of the network for tax evasion and money laundering of criminally obtained funds.
Large-scale investigative actions were carried out simultaneously in 16 regions of Ukraine. In total, more than 30 searches took place. Law enforcement officers seized cash in various currencies, including Russian rubles, with a total value of over 630 million UAH in hryvnia equivalent.
According to the Prosecutor General's Office, documents confirming the legal origin and proper accounting of these funds were not provided during the searches. Computer equipment, mobile phones, and draft financial documentation were also seized.
The ESB said that the network had a high level of conspiracy. For storing money, hidden vaults, caches, and even tunnels were equipped. The activities of the exchange offices were coordinated from a single center, and to protect unofficial financial accounting, they used a special mechanism that allowed quickly blocking access to it.
Officially, law enforcement agencies did not disclose the name of the brand. At the same time, Economic Pravda, citing a source in law enforcement agencies, reports that it is the KIT Group network.
The pre-trial investigation is ongoing. Law enforcement officers are identifying the organizers of the scheme, the connections between its participants, and the origin of the seized funds.
Based on materials: Economic Security Bureau, Office of the Prosecutor General, Economic Pravda
