The Civil Court of Cassation of the Supreme Court approved the final nationalization of the Zaporizhzhia Titanium and Magnesium Plant. Previously, the company was partially controlled by the Cypriot offshore company Tolexis Trading Limited, affiliated with businessman Dmytro Firtash.
This was reported by the Specialized Anti-Corruption Prosecutorʼs Office.
In the period from 2013 to 2015, Tolexis Trading Limited had to invest $ 110 million in modernization of production, and later it turned out that the plant was transferred to the management of management close to the investor. The latter, in turn, spent most of the attracted investments on repayment of previously created debts of ZTMP for energy resources and to creditors related to DF Group. It later emerged that Tolexis Trading Limited was part of the DF Group.
Later, this money was withdrawn from Ukraine through offshore companies, and only UAH 20 million was allocated for the modernization of production.
- Ukrainian oligarch Dmytro Firtash owns most of Ukraineʼs regional gas companies, metallurgical enterprises and other large companies. Firtash has been in Austria since 2014, where his extradition to the United States is pending. There he is accused of money laundering and the creation of organizations operating under the influence of racketeering and corruption schemes abroad.