Nearly $1.2 million embezzled in Trypilska TPP restoration scheme, SBU says
Ukrainian law enforcement uncovered a scheme that embezzled nearly 50 million hryvnias ($1.2 million) from funds intended to restore the Trypilska thermal power plant (Kyiv Oblast) after Russian attacks, the Security Service of Ukraine and National Police reported.
According to investigators, the scheme was organized by executives of two contractor companies responsible for construction and installation work at thermal generation facilities. They purchased materials from affiliated firms at prices inflated by 30% above market rates.
Investigators say the perpetrators artificially overstated the cost of services, building materials and technical equipment during repairs to the energy facility, then distributed the resulting “difference” among all participants in the scheme.
In this way, between 2023 and 2025, they transferred nearly 50 million hryvnias ($1.2 million) to accounts of affiliated companies and converted the money into cash.
During the initial stage of searches at the suspects’ residences and offices, authorities found more than 19 million hryvnias ($440,910) in cash.
Computer equipment, mobile phones and draft documentation containing evidence of the illegal transactions were also seized.
Six individuals have now been charged. Among them are three organizers of the scheme, two executives of private companies and their accomplice. They face charges under:
- Part 5 of Article 191 of the Criminal Code of Ukraine — misappropriation, embezzlement of property or acquiring it by abuse of office, committed on an especially large scale by an organized group;
- Part 3 of Article 209 of the Criminal Code of Ukraine — legalization (laundering) of property obtained through criminal means.
Conviction under these articles carries a maximum penalty of up to 12 years in prison with confiscation of property.