The National Agency for the Detection and Management of Assets (ARMA) has completed a large-scale operation to identify and seize the assets of a group of criminals engaged in fraudulent schemes within Kyiv’s homeowners’ associations (HOAs). According to the investigation, these individuals entered disadvantageous contracts for the co-owners of residential buildings, artificially inflated service tariffs, and conducted other dubious operations for personal gain.
This is reported by Kyiv24
Scale of Criminal Activity and Criminals’ Assets
Thanks to the active work of law enforcement, the criminals’ assets were identified and confiscated. Among the seized assets are nearly 15 million hryvnias in bank accounts, over 90 real estate properties in various districts of Kyiv, including the city center, as well as a significant number of land plots — a total of 69. Additionally, the suspects owned 22 vehicles, including several luxury SUVs, with a total value of around 300 thousand US dollars. The criminal group also possessed a cabin cruise boat and corporate rights to assets with a total nominal value of over 70 million hryvnias.
“The search for assets in such cases is crucial for ensuring future compensation for the damages suffered by victims. In cases of fraud within HOAs, ordinary people — apartment owners who trusted the association’s leaders — suffer. Our task is to timely identify assets so that they are not hidden or removed beyond jurisdiction”
Currently, all assets, including equipment, real estate, and cash, have been transferred by ARMA specialists to investigators for further investigation and procedural decisions within the criminal proceedings. This is an important step in the fight against corruption and fraud in the management of apartment buildings, which helps protect the interests of ordinary citizens and ensure the recovery of damages incurred.