The Bureau of Economic Security has announced suspicion against the director of an Austrian company linked to Russian oligarch Shelkov.

Detectives from the Bureau of Economic Security (BEB) have informed a native of Russia of suspicion regarding the financing of actions aimed at violently changing the borders and state borders of Ukraine, evading tax payments, and laundering assets obtained through criminal means.

This was reported by the BEB press service.

It is noted that the suspect, as part of an organized criminal group, while serving as the director of an Austrian company, entered into foreign economic contracts and additional agreements for the supply of strategic titanium-containing raw materials from the Demurinsky Mining and Processing Plant, which belonged to the Russian oligarch Shelkov.

According to the Bureau, the export of products occurred at undervalued prices, thereby reducing the income tax amount for the plant. At the same time, the products were actually directed to Russian and Belarusian companies.

"Thus, titanium-containing raw materials from the Demurinsky Mining and Processing Plant were supplied to enterprises in the Russian Federation that are directly involved in the production of weapons for the needs of the Russian Ministry of Defense or are key structures in the weapon development and manufacturing network," the BEB summarized.

The woman has currently been informed of the suspicion of committing criminal offenses under Part 1 of Article 212, Part 3 of Article 28, Part 3 of Article 212, Parts 2 and 3 of Article 209, Part 4 of Article 110-2, and Part 1 of Article 437 of the Criminal Code of Ukraine.

The Bureau reminded that earlier, within the framework of the criminal proceedings, BEB detectives secured the imposition of a seizure on corporate rights and the entire property complex, as well as vehicles of the mentioned mining and processing plant, along with funds in the company's bank accounts.

"In cooperation with prosecutors from the Office of the Prosecutor General and employees of the Ministry of Justice, the Appeal Chamber of the High Anti-Corruption Court has transferred this property and assets to the state revenue. The plant is owned by Ukraine," the message states.

Additionally, decisions by the National Security and Defense Council, enacted by decrees of the President of Ukraine, have imposed a range of personal special economic and other restrictive measures (sanctions) against the oligarch and related legal entities.

Reference.

In 2020–2021, Shelkov organized the supply of titanium concentrates worth nearly 90 million UAH to companies that manufactured weapons for the Russian army. To conceal this, they devised a complex scheme: titanium concentrates were formally sent to an Austrian company but were actually immediately redirected to the Russian Federation. Russian enterprises paid the full price to the accounts of the Austrian company, which then transferred money to the Ukrainian side at undervalued prices. This resulted in a loss of profit and the evasion of nearly 18.5 million UAH in taxes in Ukraine.

Shelkov has been charged with a series of criminal offenses, including financing actions against the state, tax evasion, and money laundering. Similar charges have also been brought against the former director of the Demurinsky Mining and Processing Plant.

Background. Earlier, Mind reported that the Cabinet of Ministers included “VSMPO Titan Ukraine”, owned by the Russian oligarch, in the list of large privatization. On March 22, 2023, a court arrested the assets of the company “VSMPO Titan Ukraine,” of which the beneficiary is the Russian oligarch Mikhail Shelkov.