NABU conducts 16 raids as part of Ukrnafta investigation

National Anti-corruption Bureau of Ukraine (NABU) agents on February 1 conducted 16 searches in various Ukrainian cities in the so-called Ukrnafta case at the behest of agents from Ukraine's Specialized Anti-Corruption Bureau of the Prosecutor General's Office (PGO), the NABU press service said.

The searches are part of a pretrial investigation into oil sales involving PJSC Ukrnafta worth more than UAH 7.7 billion, it said.

Acts committed by suspects in the case would violate Part 3 of Article 2012 (tax evasion), Part 5 of Article 191 (embezzlement using official position) and Part 4 of Article 368 (bribing a public official) of the Criminal Code of Ukraine.

"The pretrial investigation has established that from March through October 2015, officials of a number of enterprises, conspiring with officials at Ukrnafta, assumed control of the stated company (50%+1 share belongs to NJSC Naftogaz Ukrainy) in an excessive amount. According to investigators, the criminal intent was as follows: after auctions, which took place without ensuring fair competition, Ukrnafta sold to a number of "tender-winning enterprises" oil and other goods according to agreements based on lower prices," the post on the NABU's official Facebook page says.

Further actions of Ukrnafta (payment delays lasting several years for the delivered oil) incurred excessive losses to the state amounting to UAH 7.745 billion.

NABU said the investigation continues.