SBU raids Motor Sich aircraft engine manufacturer in "sabotage" probe

The Security Service of Ukraine is investigating a criminal case under Art. 113 of the Criminal Code of Ukraine (act of sabotage) into plotting or committing actions aimed at weakening the state through the destruction of PJSC Motor Sich, one of Ukraine's strategic enterprises.

According to the SBU report, representatives of a foreign company are building a modern plant for the production of aircraft engines, where they plan to transfer Ukrainian capacities and transfer technology.

To this end, contrary to Ukrainian legislation, foreigners indirectly amassed a controlling stake in Motor Sich, now registered on six offshore companies and an individual.

Read alsoSBU, Prosecutor General's Office conducting raid in Ukrzaliznytsia office"Security operatives in cooperation with the State Finance Monitoring Service of Ukraine established that the controlling stake in the strategic PJSC Motor Sich was sold to individuals and companies (non-residents) in amounts of less than 10%. This leads to suspicions on the attempt of persons of interest to conceal owners of significant participation and real beneficial owners, buyers of shares.  Currently, representatives of the non-resident company intend to illegally concentrate the acquired stake, which ensures they get over 50% of the votes in the company's supreme governing body and gain full control over its activities in the field of military defense orders, which is confirmed by evidence collected," the report said.

The SBU recalls that within the framework of the probe, back in 2017, 56% of the shares in PJSC Motor Sich was seized, according to a court warrant.

Read alsoUkraine opens Mi-8/Mi-17 repair center in Bangladesh – mediaTo obtain additional evidence in criminal proceedings, security operatives on April 23, 2018, carried out warranted raids at Motor Sich premises and homes of a number of investigation targets.

The pre-trial investigation is underway.

The SBU did not specify which foreigners are involved.