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 Judge Pikhur rules to return weapons and $4.3 million to currency profiteers

суд

Judge of the Shevchenko district court of Kyiv Olena Pikhur has ruled to return $4.3 million to an illegal currency exchange chain, which the tax police seized during a search at Victoria company premises. The Court of Appeal overturned the decision as unfounded.

This is announced by the Censor.NET Chief Editor Yurii Butusov in his blog.

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He says: "Aug. 5, the tax police seized a record in Ukraine's history amount of cash during a search at illegal currency exchange points run by Victoria company headed by Yurii Hudz.

$3.8 million, UAH 10.7 million (about $499,400), RUB 1.5 million (about $21,640), and documents, attesting to firm's illegal activity connected with currency exchange and tax evasion, were confiscated. Also, during the search, the following non-registered firearms without any possession, storage and use licenses were seized: two AKSU-74 machine guns, two Saiga short guns, a revolver.

The company's official annual (2012, 2013, 2014) cash flow makes 700-900,000 hryvnias (about $42,005)."

See more: Tax police exposed large network of illegal currency exchange offices. $4 million and 7 million hryvnia seized. PHOTOS

"According to company's off-the-book accounting, the seized amount is equal to its turnover for a few days. The tax police demanded to arrest the confiscated assets through a number of violations of the criminal code, as well as suspicion of deliberate concealing information about financial transactions, amounting to 150,000 hryvnias or over, and evasion of taxes, fees, amounting to 50 million hryvnias," Butusov stresses.

He writes: "However, the judge of the Shevchenko district court of Kyiv Olena Pikhur refused to arrest the seized money and weapons. Moreover, the money and weapons, despite all the obvious evidence and documents, had to be returned. But court's mail was too slow, somehow preventing the shameful decision from being executed. As a result, the tax police took time to appeal the decision. And today, Aug. 27, an ordinary miracle happened - the Kyiv City Court of Appeal overturned Pikhur's decision arresting the seized assets."

"It took Ukrainian justice three weeks to arrest confiscated illegal millions of dollars and weapons. Now, they will serve as evidence in a criminal case, which is to be legally investigated. Now it's a matter of principle," Butusov resumes.

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