You're reading: Court sets Hr 2 million bail for ex-manager of Electrotyazhmash

Kyiv’s Solomiansky district court Electrotyazhmash approved a UAH 2 billion bail option for the former deputy director general for strategy and marketing of state-run enterprise Electrotyazhmash.

The press service of National Anti-Corruption Bureau of Ukraine (NABU) reported last week that the court made the decision under a petition of NABU detectives on Nov.10.

“The loss caused to the state-run enterprise is Hr 37.2 million,” NABU said.

The manager is suspected of committing a criminal group offense and abuse of power.

NABU said that the sum of bail selected by the court does not meet the amount of the loss caused. The suspect’s mode of living is luxurious. He owns a lot of immovable and movable property.

NABU said it hopes that the Specialized Anti-Corruption Prosecutor’s Office (SAP) would appeal the size of the bail in appeal court.

Detectives of the NABU jointly with SAP prosecutors in Kharkiv detained former deputy director general for strategy and marketing of Electrotyazhmash on Nov. 8.

During an investigation NABU revealed a scheme using which officials of Electrotyazhmash under collusion with heads of two shell companies in 2014-2015 sold a DC engine almost at the production cost (Hr 1.39 million) and then the engine was resold to Kazakhstan at over $3 million. The enterprise saw losses of Hr 37.2 million.

The press service of Electrotyazhmash told Interfax-Ukraine they found out about the arrest of former deputy director Roman Dovhy from media reports.