
Done's Schemes: How Ukrainian Hryvnia Turns into Swiss Francs via Importers
Investigation reveals a network of companies where funds are collected in Ukraine, converted into foreign currency, and transferred to Swiss Done Switzerland AG.

Investigation reveals a network of companies where funds are collected in Ukraine, converted into foreign currency, and transferred to Swiss Done Switzerland AG.

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The National Agency on Corruption Prevention (NACP) reviewed the declaration of Oleksandr Demchenko, head of the Pervomaisk City Council, for 2023. As a result, inaccurate information regarding income and assets worth over UAH 5.3 million was identified.
The main part of the discrepancies was a loan of UAH 5 million received from Oleksandr Yurchenko. As the mayor himself explained, the borrower is the husband of his daughter, Anna Yurchenko, so he considered that this information did not require mandatory declaration. In his opinion, the funds in question constitute joint family property.
However, the NACP did not accept this explanation. Under the law, a son-in-law's relatives are not considered members of the declarant's family, and therefore information about the loan should have been reflected in the report. Moreover, according to a notarial certificate, Oleksandr Demchenko himself was aware that his wife had received this sum. Subsequently, the funds were spent on the purchase of an apartment in Pervomaisk worth over UAH 4 million.
In addition to the loan, the NACP established that the mayor did not list two bank accounts in the declaration:
Thus, the total amount of undeclared assets exceeded UAH 5.3 million.
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