You're reading: Prosecutor puts ex head of State Food-Grain Corporation Yakubovych on wanted list

The Chief Investigation Department of the Prosecutor General's Office of Ukraine has put former board chairman of public joint-stock company State Food-Grain Corporation Ihor Yakubovych on a wanted list.

According to the report of the department on Jan. 27, Yakubovych and his deputy who ran the posts in 2013 fabricated official documents and embezzled Hr 177 million in collusion with a top manager of one of the private joint-stock companies.

The funds will be a part of the Chinese credit the Ukrainian corporation raised with government guarantees to finance projects in agriculture.

In September 2014, the Prosecutor General’s Office informed the former board chairman and head of the supervisory board of the State Food-Grain Corporation that they are suspected of a crime. They deliberately created the conditions for embezzlement of $15 million in cooperation with other persons.

In August 2010, the government decided to create the State Food and Grain Corporation of Ukraine. The corporation has a chain of branches – grain storage facilities, flourmills, fodder factories and a cereals factory. The 53 subdivisions of the corporation can store a total of 3.75 million tonnes of grain, which includes the grain handling capacities of Odesa and Mykolaiv ports of around 2.5 million tonnes of grain cargo per year.