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‘New batch’ of Medvedchuk, Kozak brothers’ property worth almost ₴400m transferred to state

These include land, corporate rights, property complexes and vehicles of four companies in Lviv. 

‘New batch’ of Medvedchuk, Kozak brothers’ property worth almost ₴400m transferred to state
Photo: SBU

A court has seized additional assets belonging to the brothers of former MPs Viktor Medvedchuk and Taras Kozak, the Security Service of Ukraine (SBU) reports

These include land, corporate rights, property complexes and vehicles of four companies in Lviv. These include a concrete production plant and a construction company.

The total value of the blocked property is almost UAH 400 million.

The relevant assets were transferred to the National Agency for Finding, Tracing and Management of Assets Derived from Corruption and Other Crimes (ARMA).

As a result, the state will additionally manage more than 10,000 square metres of real estate and more than 70 vehicles and construction equipment owned by the companies of Serhiy Medvedchuk and Bohdan Kozak.

In June this year, law enforcement officers exposed both brothers of the former MPs on large-scale financial fraud.

According to the investigation, the defendants used controlled companies to embezzle funds by failing to pay taxes to the state budget of Ukraine.

At that time, Serhiy Medvedchuk and Bohdan Kozak were served suspicion notices in absentia under Part 3 of Article 212 of the Criminal Code of Ukraine (tax evasion, duties (mandatory payments)).

Then, based on the materials of the Security Service and the State Bureau of Investigation, the first seizure of the suspects' property worth over UAH 200 million was made.

Both suspects are currently hiding abroad. Comprehensive measures are underway to bring them to justice. 

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