On February 19, the NABU and the SAPO announced new notices of suspicion in the case involving Dmytro Sennychenko, the former head of the State Property Fund of Ukraine. Detectives say four members of the group organized a complex scheme to move funds to the United Arab Emirates. There, through a network of shell companies, they allegedly purchased luxury real estate, including entire floors in residential complexes, premium vehicles, and also land plots in Croatia. In total, more than UAH 300 million was allegedly laundered through the UAE scheme.

These cross-border financial transactions were uncovered, investigators say, thanks to close cooperation between the Ukrainian investigative team and colleagues in several European countries.

According to the investigation, in 2019–2021 Sennychenko headed a criminal organization that established control over major state-owned assets. The scheme allegedly relied on appointing loyal managers to strategic enterprises, including Odesa Portside Plant and United Mining and Chemical Company JSC. 

At OPP, investigators allege a “tolling” arrangement was implemented: an intermediary company controlled by Sennychenko, Avto Gaz Trading, supplied gas and took the finished products (fertilizers) at a minimal price, keeping the profit while leaving losses with the state-owned plant. At UMCC, titanium raw materials were allegedly sold at below-market prices to affiliated companies, which then resold them at market value.

Losses from the main episodes reportedly exceed UAH 500 million, and the total volume of laundered funds may reach UAH 10 billion. 

Sennychenko is reportedly in hiding abroad, so he was notified of suspicion in absentia. The HACC later ordered his pre-trial detention in absentia. In December 2024, the NABU and the SAPO seized luxury cars abroad as part of this case. 

In addition to the former SPFU head, the case now involves about 13 suspects, including his advisers and ex-directors of state-owned enterprises.