Law enforcers have detained the director of the Zaporozhye Titanium and Magnesium Works on suspicion of 492 million UAH embezzlement.
“The detention was carried out within the investigation, started by the detectives of the National Anticorruption Bureau in June, as to the abuse of office by the officials of ZTMK, which led to the embezzlement of the large amount of money”, said the bureau press-service.
According to the investigation, in 2014-2015 Tolexis Trading Limited, the co-owner of the works, gave 880 million UAH for the modernization. But the director of the works, abusing his office, spent most of the money (492 million UAH), having transferred it to third parties. In particular the money was given to energy-providing companies and a bank to clear debts. (Ukrainian metal)