The State Bureau of Investigation announces suspicion of two appraisers who underestimated the value of shares of the Bolshevik plant by one billion hryvnias

Oleg Panfilovych

The State Bureau of Investigation has announced the suspicion of two appraisers who underestimated the value of shares in the Bolshevik plant in Kyiv by more than a billion hryvnias.

This was reported by the State Bureau of Investigation press service.

The investigation found that the property valuation report used to determine the value of the plantʼs shares did not meet the requirements of the law, which was confirmed by forensic examinations. The actions of the suspects are qualified under Part 3 of Art. 358 (drawing up by the appraiser of a knowingly forged official document by a group of persons with prior conspiracy) of the Criminal Code. The sanction of the article provides for imprisonment for up to 5 years.

  • On October 27, 2021, the Bolshevik plant was sold at an auction of the State Property Fund as part of the "Great Privatization". The starting price was 1.39 billion hryvnias. The plant was sold for UAH 1.429 billion to General Commerce LLC, a subsidiary of UFuture Holding, owned by businessman Vasyl Khmelnytsky. The new owners promise to create an innovative infrastructure with billions of investments and new jobs on the site of the plant.
  • On November 17, the Antimonopoly Committee temporarily suspended the privatization of the plant and began investigating a possible conspiracy by auction participants.
  • On December 7, the State Property Fund reported that the state budget had received money for the plant. On December 29, the Antimonopoly Committee allowed General Commerce to privatize the Bolshevik plant.