The management of JSC “United Mining and Chemical Company” and law enforcement officers prevented the causing of the UAH 80 million state losses
On May 22 – 23, 2020, the new management of UMCC in cooperation with the National Anti-corruption Bureau of Ukraine and the Specialized Anti-corruption Prosecution stopped the former leadership’s crime scheme of withdrawing of about 20 thousand tons of ilmenite concentrate from the enterprise’s warehouses.
On May 22, 2020, the new management of JSC “UMCC” informed the NABU of the foreign intermediary company’s (from the UAE) intention to withdraw unpaid 20 thousand tons of titanium-containing raw materials (ilmenite concentrate) fromthe Odessa Commercial Sea Port within 24 hours. Mentioned raw materials were transferred on the basis of contracts, concluded by the former management, to the little-known intermediary company with the off-shore status, which has the outstanding receivables to UMCC in the amount of UAH 400 million.
Therefore, by written decision of the Director of the National Bureau, to ensure the preservation of the material evidence, in implementation of part 8 art. 170of the Criminal Procedural Code of Ukraine, on May 22, 2020, it was arrested 20 tons of ilmenite concentrate. Then, as it is required by the Law, it was submitted an application to the High Anti-Corruption Court of Ukraine, which, on May 26, 2020, adopted the relevant decision.
The UMCC’s management emphasizes that product sales will take place exclusively at market price and without intermediary companies, that there was under the former leadership.
“Timely management decisions of the new leadership of UMCC and quick action of the NABU and the SAP’s officers allowed to prevent the state losses in the amount of UAH 80 million. All corruption schemes that had been established by the enterprise’s former management, remained in the past and their organizers will be criminally liable. On our part, we do everything possible to ensure the transparency of the enterprise’s operating activities, which will allow to improve the performance and financial indicators of UMCC and to prepare the company for competitive privatization”, - the temporarily acting Chairman of the Board of UMCCPeter Davis stated.
*All information concerning the activities of JSC “UMCC” temporarily will be published on the State Property Fund of Ukraine’s official website since access to the company’s website and its official Facebook page is blocked by the former management