Funds worth 304 million Hryvnia (over $8 million) seized from the son of ex-president Viktor Yanukovych have been transferred to the Armed Forces of Ukraine, according to the Prosecutor General’s Office on Telegram.

“We are talking about seized funds of PJSC ‘All-Ukrainian Development Bank.’ Since 2011, the eldest son of the former president has owned 100 percent of the bank’s shares. Bank employees tried to hide the origin of cash [injected into] the financial institution. This was because the money did not have a legal source. Therefore, bank employees, with the aid of financial transactions, attempted to legalize income obtained by illegal means,” reported the Prosecutor General’s Office.

During the pre-trial investigation, prosecutors seized the funds of officials at the bank, including funds of the ex-president’s son. Subsequently, via court rulings, the money was transferred to the National Agency for Identification, Search, and Management of Assets Obtained from Corruption and Other Crimes (ASMA).

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The court then decided to send the specified funds to the Main Intelligence Directorate of the Ministry of Defense.

“Currently, 304 million Hr. are credited to a special account to ensure Ukraine’s defense capability,” reported the Prosecutor General’s Office.

On Aug. 4, the Council of the European Union decided to introduce new restrictive measures against the ex-president of Ukraine, Viktor Yanukovych, and his son Oleksandr, due to Russia’s invasion of Ukraine.

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“The Council added the pro-Russian former President of Ukraine Viktor Fedorovych Yanukovych and his son Oleksandr Viktorovych Yanukovych to the list of persons, entities, and bodies subject to restrictive measures set out in the Annex to Decision 2014/145/CFSP for their role in undermining or threatening the territorial integrity, sovereignty and independence of Ukraine and the state’s stability and security, as well as – In the case of Oleksandr Viktorovych Yanukovych – for conducting transactions with the separatist groups in the Donbas region of Ukraine,” reported the announcement on the website of the Council of the EU.

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