Law enforcement officers of the Principality of Monaco have detained the son of former Motor Sich CEO Vyacheslav Boguslaev, Oleksandr, as part of a large-scale international investigation into the illegal withdrawal of the Ukrainian company’s assets. This was reported by Eurojust (the EU Agency for Cooperation in Criminal Matters).
According to the investigation, a multi-year scheme involving former Motor Sich executives allowed the misappropriation and transfer of assets worth hundreds of millions of euros. The operation involved law enforcement agencies from Ukraine, France, the Czech Republic, Slovakia, Switzerland and Luxembourg.
“The case involves suspicion of corruption, money laundering, falsification of documents, breach of trust and serious economic fraud,” Eurojust said.
As part of the investigation, 36 searches were conducted on 25 April, during which luxury real estate, artwork, jewellery, over €2 million in cash were seized, and dozens of bank accounts were frozen.
Ukrainian anti-corruption authorities have stated that they will continue to demand the extradition of Oleksandr Boguslaev to Ukraine for criminal prosecution. It is known that his father, Vyacheslav Boguslaev, is under arrest on suspicion of collaboration and supplying aircraft parts to Russian military enterprises.
