The law enforcement officers conducted 19 searches in the offices of main contractors of the company and private houses of their owners.

During the construction and reconstruction of electrical networks Odessaoblenergo appropriated and embezzled UAH 20 mln, the Main Department of National Police in Odessa region said, Correspondent.net reports.

As the press-office of the prosecutor’s office reported, during the implementation of investment program on the construction and reconstruction of electrical networks and substations by contracting organizations, with which Odessaoblenergo concluded agreements in 2015, more than UAH 20 mln were transferred to the accounts of these enterprises with evidence of fraud.

The prosecutor’s office reminded that more than 25% of the authorized capital of Odessaoblenergo belongs to the state.

“The investigation verifies the version of appropriation of specified funds and their distribution between possible parties to the transaction. The law enforcement officers conducted 19 searched in the offices of main contractors of PJSC and private houses of their owners”, the prosecutor’s office added.

The operational administration of Odessaoblenergo is carried out by VS Energy group, which controls more than 60% of shares of the company, other 25% of shares of “Odessaoblenergo” belong to the state represented by the State Property Fund.

VS Energy controls regional power distribution companies in Kyiv, Rivne, Kherson, Kirovograd, Zhytomyr, Odessa and Chernivtsi regions. The company also owns Sevastopolenergo, the group has also shares in Nikolaevoblenergo and Zhmelnitskoblenergo.