The SBI notified two appraisers who undervalued "Bolshevik" plant shares by more than UAH 1bn of suspicion

The State Bureau of Investigation employees have notified two appraisers of a private company of suspicion who forged documents by undervaluing the market value of 100% of the shares in the First Kyiv Machine-Building Plant (called «Bolshevyk» before 2018) by over UAH 1bn.

Within the framework of the investigation of criminal proceeding into possible abuse of authority by officials of the State Property Fund of Ukraine during the privatization of “Bolshevyk” on 27 October 2021, it was revealed that illegal alienation from state property occurred at an underestimated value and based on forged documents. In particular, the property appraisal report was used to determine the value of the plant's shares. This document does not meet the legal requirements as confirmed by forensic examinations.

Such actions have caused significant economic damage to the state.

The actions of the suspects were classified under Part 3 of Article 358 of the Criminal Code of Ukraine (Drawing up by the appraiser of a knowingly forged official document upon a prior conspiracy of a group of persons).

The pre-trial investigation is ongoing.

Procedural guidance into this criminal proceeding is provided by the Prosecutor General’s Office.

It should be reminded that earlier within the framework of the criminal proceeding

investigating judge seized 100% of the share capital of the First Kyiv Machine-Building Plant.