Ukraine recovers Yanukovych's US$3 mln through special confiscation procedure

The funds were placed on the State Executive Service's deposit account on May 7.

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The Ukrainian Justice Ministry's State Executive Service has recovered UAH 55 million (over US$2 million) and $1 million in favor of Ukraine from Cypriot-based Erosaria Limited and Aldoza Investments Limited, associated with disgraced ex-President of Ukraine Viktor Yanukovych and former high-ranking officials.

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"The funds were recovered in favor Ukraine pursuant to a court's verdict on the use of special confiscation with the forcible seizure of funds of Erosaria LTD and Aldoza Investments Limited, which were deposited in JSB Ukrgasbank, and their further transfer to state ownership," Deputy Minister of Justice of Ukraine on the Execution of Judgments Svitlana Glushchenko said on May 10.

The funds were placed on the State Executive Service's deposit account on May 7, she said.

As was earlier reported, some UAH 1.5 billion, or US$57.1 million, confiscated from Yanukovych's allies was transferred to Ukraine's State Treasury on February 22.

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