Ex-Presidential aide detained over multi-million dollar theft
A former advisor to the Presidential Office and an officer of the SBU (Security Service of Ukraine), Artem Shilo, has been placed in pre-trial detention on charges of embezzling $2.48 million from Ukrzaliznytsia, Ukraine's state railway company.
Shilo is being held with the option of a $765,000 bail, the Specialized Anti-Corruption Prosecutor's Office announced on April 4.
The High Anti-Corruption Court has ordered Shilo's detention until May 31, as he potentially faces up to 12 years behind bars, including the forfeiture of his assets if convicted.
The case against Artem Shilo: A detailed look
Investigations led by NABU (National Anti-Corruption Bureau of Ukraine) detectives on April 2 and 3 identified seven individuals, including Shilo, as part of an organized group implicated in a scheme that siphoned off over UAH 90 million ($2.4 million) in a fraudulent transformer procurement operation.
As the alleged ringleader, Shilo, who previously served as a Presidential Office advisor and SBU official, was apprehended. The scheme reportedly involved the acquisition of transformers from a Bulgarian front company, which originally sourced the equipment from an Uzbek producer partially owned by Russian entities. These transformers were then sold to Ukrzaliznytsia at a markup of 100%.
Nashi Hroshi project reported that Shylo was appointed deputy head of the Department for Protection of National Statehood of Security Service of Ukraine in August 2022. SBU and Shylo himself have not yet commented on the situation.
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