SAP plans to transfer UAH 150 million bail for Halushchenko to ARMA management

Initiative to preserve the value of seized funds

The Specialised Anti-Corruption Prosecutor's Office (SAP) intends to transfer UAH 150 million to the Agency for the Recovery and Management of Assets (ARMA). These funds were deposited as bail for former Energy Minister Herman Halushchenko. This was reported by hromadske.

According to SAP prosecutor Vitaliy Rybalkin, the specified amount is currently physical evidence in a criminal case related to Operation "Forrest Gump".

«Ці кошти, хоч і переказані в безготівковій формі, підпадають від ознаки речового доказу. [Нині] вони арештовані на казначейському рахунку ВАКС» (These funds, although transferred in non-cash form, fall under the category of physical evidence. [Currently] they are seized in the HACC treasury account), explained the prosecutor.

Asset management mechanism and protection against inflation

Vitaliy Rybalkin added that after the funds are transferred to ARMA's management, the agency will be able to invest them in bonds. This step will allow preserving the value of the seized funds from losses due to inflation.

«Які є підстави для передання в АРМА? Вартісний критерій — якщо коштів більше, ніж порогова сума. Останній складник арешту майна — де ми маємо його зберігати» (What are the grounds for transfer to ARMA? The value criterion — if the funds exceed the threshold amount. The last component of asset seizure is where we must store it), he noted.

The prosecutor emphasised that, as a general rule, funds that are physical evidence are placed in the deposit account of the pre-trial investigation body. However, in accordance with the Criminal Procedure Code, if the amount is significant, to prevent loss of value «бо інфляція їх швидко "з'їдає"» (because inflation quickly "eats them up"), the transfer of funds to ARMA management is provided for.

«Вони купують облігації 17%. Держава отримає ці 150 мільйонів з облігацією, може пустити їх на щось корисне. Плюс відсоток, щоб інфляційні чинники не впливали на вартість цього арештованого речового доказу» (They buy 17% bonds. The state will receive these 150 million from the bond, can put them to good use. Plus interest, so that inflationary factors do not affect the value of this seized physical evidence), clarified the SAP representative.

Defence reaction and court hearing proceedings

Herman Halushchenko's lawyers expressed dissatisfaction with the prosecutor's position, criticising his «бізнесовий підхід» (business approach) to the seized funds.

A representative of only one of the four limited liability companies that deposited bail for the suspect was present at the hearing of the Appellate Chamber of the Higher Anti-Corruption Court (HACC). Herman Halushchenko himself did not appear at the hearing.

Considering the defence's motion to grant additional time for preparation, the court decided to postpone the case review to November.

Case context

Herman Halushchenko previously held the positions of Energy Minister and Justice Minister. Currently, he is a figure in the large-scale Operation "Midas" (also known as the "Mindich case"), aimed at exposing corruption schemes in the energy sector.

According to the investigation, businessman Timur Mindich had influence over Halushchenko, and the former minister himself was involved in money laundering.