By PAUL O’DONOGHUE, Senior Correspondent
OFFICIALS froze €57 million and arrested a Ukrainian entrepreneur accused of laundering the profits of illegal arms sales through property in France and Monaco.
Investigators say the case also involves profits from the sale of shares in a Ukrainian defence company.
The suspect, arrested in Monaco on 28 April, is the son of a prominent Ukrainian businessman who owned the defence firm. After Russia invaded Ukraine, the company’s profits declined. “The owners are suspected of having illegally sold their majority stake to representatives of a foreign state,” according to Eurojust, the EU criminal cooperation agency.
“To hide the illegal profits gained from the sale, the owner’s son bought properties, in several countries including France and Monaco,” the organization added. “He is believed to have subsequently laundered hundreds of millions of euros in profits.”
Laundered profits
The businessman’s father is already on trial in Ukraine for crimes against national security. Authorities have added money laundering to the charges. Neither the businessman, nor the son, were named by Eurojust.
In France alone, investigators say the son laundered more than €57 million between 2010 and 2023.
“Soon after opening a money laundering investigation, the French authorities froze the suspects’ assets worth €57 million with the intention of returning them to Ukraine,” Eurojust said.
A team based at Eurojust helped coordinated the cross-border investigation. The team brought together prosecutors and investigators from Ukraine, Franc and Monaco. Eurojust helped them share evidence and set a common judicial strategy.
During the arrest in Monaco, authorities recovered documents relevant to the case. Investigators from France, Ukraine and Monaco are now questioning the suspect.
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