Politics 2024-05-15T05:11:49+03:00
Ukrainian news
Switzerland Starts Process Of Confiscating USD 140 Million In Frozen Assets Of Yanukovych's Entourage

Switzerland Starts Process Of Confiscating USD 140 Million In Frozen Assets Of Yanukovych's Entourage

Ukraine, NACB, Viktor Yanukovych, Switzerland, former President, High Anti-Corruption Court, HACC, assets of Yanukovych's entourage, Foreign Illicit Assets Act, FIAA

Switzerland has begun the process of confiscating the frozen assets of former President Viktor Yanukovych's entourage.

This was announced by the High Anti-Corruption Court (HACC) , Ukrainian News Agency reports.

"On February 15, the Federal Council of Switzerland (Swiss government) began the procedure of administrative confiscation of the assets of ex-president Yanukovych's entourage for a total amount of CHF 130 million (frozen after the Revolution of Dignity in February 2014)," HACC reported.

These assets belonged to persons whose actions the National Anti Corruption Bureau’s (NACB) detectives conducted a pre-trial investigation in separate criminal proceedings, during which, among other things, international cooperation with the competent authorities of Switzerland took place.

After Russia's full-scale aggression began last year, Switzerland began considering confiscation cases under the Foreign Illicit Assets Act (FIAA).

On May 25, 2022, the first confiscation proceedings of approximately CHF 100 million were launched.

After further deliberations, the Federal Council ordered the opening of another proceeding for CHF 30 million, bringing the total amount of assets subject to confiscation to over CHF 130 million.

According to the Federal Council, the assets will remain frozen pending a final decision by the Swiss administrative justice system on confiscation.

Any property that is finally confiscated will be returned to the Ukrainian people in accordance with the international agreement.

As Ukrainian News Agency earlier reported, the Appeal Chamber of the High Anti-Corruption Court confiscated two houses, 2 land plots in Donetsk, a tennis court in Yalta (Crimea) and a Toyota Land Cruiser SUV from the son of former President Viktor Yanukovych, Oleksandr.

The HACC seized the assets of former President Viktor Yanukovych, his wife Liudmyla and his mistress Liubov Polezhai to state income.

In 2014, the EU froze the assets of 18 ex-officials, and will return the money to Ukraine.