In Ukraine, the assets of Russian businessman Vadim Zarubin have been seized, as he is suspected of financing the military aggression of the Russian Federation. Thirteen commercial real estate properties and corporate rights to eight extraction companies have been placed under arrest, with a total value exceeding 50 million hryvnias.
This is reported by Finway
Details of the seizure and asset structure
According to the Kirovohrad Regional Prosecutor’s Office, about 25 million hryvnias of the seized funds consist of movable and immovable property of the companies, while the rest pertains to corporate rights. Among Zarubin’s main assets is an abrasive materials factory located in the Kirovohrad region.
The Security Service of Ukraine emphasized that the seizure prevents the transfer of property to third parties, which could hinder the further nationalization of assets for the benefit of the state.
Involvement in financing the war and the scheme for transferring funds
The investigation established that Zarubin systematically directed a portion of his companies’ profits to support armed formations of the Russian Federation. According to the case materials, the largest sums were used to purchase SUVs, drones, and fuel for the Russian army.
“The investigation found that Zarubin regularly transferred part of the profits from his controlled enterprises to meet the needs of armed groups of the Russian Federation.”
Following the onset of the full-scale invasion by Russia, the businessman utilized an extensive network of controlled companies to transfer funds to the Russian Federation.
Based on the collected evidence, the Security Service of Ukraine has notified Zarubin of suspicion in absentia under part 4 of Article 110-2 of the Criminal Code of Ukraine – financing actions aimed at violent change or overthrow of the constitutional order, seizure of state power, or alteration of the borders of Ukraine’s territory or state border. The penalty for the charged article includes a punishment of 10 years of imprisonment with confiscation of property.