Former Ukrenergo CEO Volodymyr Kudrytskyi was released from a pretrial detention center Thursday after posting bail of 13.7 million hryvnias ($327,000), Ukrainian media reported.
Kudrytskyi, who led the state energy company from 2020 to 2024, faces charges of large-scale fraud. He is accused of participating in a 2018 scheme with Lviv businessman Ihor Hrynkevych to embezzle state funds. Hrynkevych is also charged in the case, linked to supplying low-quality uniforms to Ukraine’s armed forces.
Kyiv’s Pechersk District Court had ordered Kudrytskyi held in custody until Dec. 26 but allowed his release on bail, RBC-News reported. The court also accepted personal surety pledges from members of parliament, Inna Sovsun and Maksym Khliapuk.
Ukraine’s State Bureau of Investigation said the case involves alleged abuse of office and embezzlement of approximately $1.6 million. Law enforcement searched Kudrytskyi’s home on Oct. 21 and detained him in Lviv Region on Oct. 28.
Kudrytskyi criticized the court ruling as “absurd and unfounded.” Some Ukrainian officials have also questioned the case. Anastasia Radina, chair of Parliament’s Anti-Corruption Committee, called it “pressure” and said the prosecution has yet to present evidence.
Kudrytskyi was dismissed as CEO in 2024, prompting resignations from two board members who described his firing as political. If convicted, Kudrytskyi could face up to 12 years in prison and heavy fines.