Tax specialists exposed a fraudulent scheme in the securities market

Tax specialists exposed a fraudulent scheme on the over-the-counter securities market totaling more than 21 million UAH.

As a result of conducted analysis and monitoring of securities operations, it was established that a number of business entities conducted operations for the purchase and sale of shares in a documentary form. Herewith, their registration was canceled in 2009 by a decision of the National Commission on Securities and Stock Market.

Based on analytical research, the Anti-money laundering department of Main Directorate of the STS in Zaporizhzhia region identified violations under Article 209 and 212 of the Criminal Code of Ukraine.

Currently, Main Directorate of the STS in Zaporizhzhia region is taking measures to initiate criminal proceeding and stop turnover of “garbage” securities.

Information about abuse in the securities market was sent to the National Commission on Securities and Stock Market for appropriate response.