Asset tracking and recovery: $39 million frozen in Switzerland may be returned to Ukraine

Ukraine may soon recover $39 million in assets frozen in Switzerland.

This was announced by Semen Kryvonos, Director of the National Anti-Corruption Bureau of Ukraine (NABU), during a briefing at the Media Center Ukraine.

“Asset tracing and recovery is a critical area for us. By the end of 2024 and the beginning of 2025, we have already seen several examples of asset seizures related to the embezzlement of property by a criminal organization led by a former head of the State Property Fund of Ukraine. These include a yacht and luxury cars, and we are now waiting for their sale and quick return to Ukraine,” Kryvonos said.

According to him, Ukraine now has a unique opportunity to recover $39 million frozen in Switzerland.

“At this moment we are witnessing a unique case. We have an opportunity to recover $39 million currently frozen in Switzerland. We are actively negotiating with our international partners, and both the NABU and the Prosecutor General’s Office have taken all necessary steps to ensure that these assets are returned to Ukraine. However, the attitude of the government and Naftogaz is now critical. We are running out of time and we hope that they will finalize their position so that we can successfully recover UAH 1.5 billion for Ukraine,” Kryvonos said.

Read more: https://mediacenter.org.ua/news