The Asset Recovery and Management Agency (ARMA) has begun an investigation into the winners of auctions for the sale of 460 hectares of land in the Borzhava valley area of Transcarpathia. This step is necessitated by the need to prevent the return of assets to individuals who may have been involved in illegal activities.
This is reported by Finway
International Law and Restrictions for Buyers
According to international standards, self-laundering — that is, the acquisition of assets by individuals linked to criminal offenses through shell companies or auctions — is prohibited. Such transactions are automatically deemed invalid and are not permitted in global legal practice. Special attention is given to cases where assets are attempted to be returned by individuals who are under sanctions or linked to an aggressor state.
ARMA’s Actions in Case of Violations
ARMA emphasizes that all assets put up for sale cannot be transferred to individuals who have legal restrictions or prohibitions on their acquisition or use. This applies, in particular, to citizens who are subject to sanctions, as well as those linked to the Russian Federation or another aggressor state.
No asset will be transferred to individuals who, according to Ukrainian law, have restrictions or prohibitions on its acquisition or use, including those who are subject to sanctions or are linked to an aggressor state. If such circumstances are identified, the results of the auction will be canceled, and the assets will be put up for resale
In the event of violations being detected during the investigation of auction winners, the results of such auctions will be annulled, and the land plots will be re-offered for open sale.