Ukrainian Prosecutors Find Evidence of Theft

Ukraine’s prosecution service has announced the end of its investigation into criminal activity by a former deputy chairman of Naftogaz Ukrainy, Alexander Katsuba, according to the state gas and oil monopoly.

The investigation established that Katsuba misused his position to appropriate over hryvnia 450mn ($17.5mn) of company funds during the year starting August 2012, Naftogaz said November 17, saying that he was aided by his brother Sergei.

They used a system of fictitious oil product purchases to disguise the alleged theft and the case will very soon come before a court. Naftogaz will be able to seek compensation from the guilty parties for the losses incurred, it said.

Naftogaz will continue to co-operate actively with the investigative organs to seek compensation for the losses caused by the illegal activities of former management, it said.

William Powell