UAH 68 million for a “paid to a fictitious adviser”: the beneficiary of the energy company and the company’s executives were served a notice of suspicion

Prosecutors from the Office of the Prosecutor General have notified the ultimate beneficial owner of an energy distribution company in northern Ukraine and three company officials that they are suspected of embezzling company funds on an especially large scale (Part 5 of Article 191 of the Criminal Code of Ukraine).

According to the investigation, the amount in question is nearly 68 million hryvnias, which could have been used to strengthen the protection of the energy infrastructure in the Sumy region but was actually paid as salary to a so-called “advisor.”

The “advisor” scheme worth one million hryvnias

The investigation established that the controlling stake in the energy company belongs to private entities, while a portion of the company is state-owned.

According to law enforcement officials, a scheme was organized to siphon off funds through the fictitious employment of one of the company’s owners, with the aim of minimizing dividend payments to the state and for personal enrichment.

Under the terms of the contract:

• 1 million hryvnias in monthly salary;
• remote work format;
• actual workload—about 4 hours per week.

At the same time, the monthly salary was 5–7 times higher than the maximum level set by the National Commission for State Regulation in the Energy and Utilities Sectors for employees of this company.

It is also noted that sanctions were imposed on one of the individuals involved in 2025 by a decision of the National Security and Defense Council of Ukraine.

Period and Losses

According to the investigation, between 2020 and 2024, the implementation of the scheme resulted in losses to the company amounting to approximately 68 million UAH, as confirmed by expert studies.

The following individuals have been notified of the charges:

• the beneficial owner of the company;
• the former and current company executives;
• the CFO.

According to law enforcement officials, these individuals were responsible for approving personnel decisions, compensation terms, and financial transactions.

The investigation is ongoing

The pre-trial investigation is being conducted by detectives from the Economic Security Bureau of Ukraine with operational support from the Security Service of Ukraine. The issue of imposing preventive measures on the suspects is currently being decided.

At the same time, in accordance with Article 62 of the Constitution of Ukraine, a person is presumed innocent of a crime until their guilt is proven in accordance with the law and established by a court conviction.