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 SBU reveals millions stolen by Kyiv road company, seizes 4M of undeclared cash. PHOTOS

Security Service (SBU) and Prosecutor General's Office (PGO) agents have exposed officials of the municipal road company Kyivavtodor as involved in the theft of hundreds of millions of hryvnia. Four million hryvnia ($147,469) of undeclared funds was found during a search of the company's office.

Censor.NET reports citing the SBU press service.

The officials are reported to have appropriated funds of state and municipal budgets allocated for the construction, maintenance, overhaul and routine repair of roads of the capital city, as well as the reconstruction of transportation nodes, repair of interquarter driveways and adjacent territories.

Almost 300 million hryvnia ($11.060 million) was siphoned to accounts of fictitious firms in 2016 alone.

Law enforcers raided the offices of Kyivavtodor, contractor companies, fictitious firms involved in the fraud, and apartments of the suspects.

Read more: Сase of embezzlement of 600 million hryvnias by NBU officials was taken to court by SBU

The SBU has seized documents confirming illegal business transactions, draft records, computer equipment, stamps of commercial entities involved in the said transactions, and almost four million hryvnia of unaccounted funds.

A criminal proceeding has been launched under article 191 (misappropriation, embezzlement or seizure of property through abuse of office) of the Criminal Code of Ukraine.

Read more: State enterprise top official apprehended on suspicion of embezzlement of $750M of state funds, - Lutsenko

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