The Czech Republic is conducting an investigation into AKM Group-Cz.a.s. for its dealings with Ukrainian government agencies, during which USD 38.8 million was seized from the company’s accounts. These funds, transferred from Ukraine, were frozen due to suspicions of misuse and the questionable nature of the transactions, as identified by the Czech Financial Analytical Office and subsequently reported to the National Centre for Combating Organised Crime.
Censor.NET reveals that AKM Group-Cz.a.s. frequently acts as a middleman in transactions with the state-owned Spetstechnoexport, under the supervision of the DIU, despite the company’s website still being under development. The leadership of AKM Group-Cz.a.s., predominantly staffed by Ukrainians, has raised questions about the company’s operational integrity and pricing practices.
Further scrutiny of AKM Group-Cz.a.s.’s business practices showed discrepancies in pricing when compared to offers from Ukrspetsexport, such as overcharging for RPG-7 grenade launchers, S-8 unguided aerial missiles, and various other military supplies, including those from Bulgarian manufacturer Arsenal LLC. These findings have prompted interest from the Security Service of Ukraine, not only in AKM Group-Cz.a.s. but also in the Czech company Colt Cz.
Additionally, the report touches on the involvement of PAMCO INT. a.s., another Czech firm with a history in the arms trade and previous dealings in aerospace and defense sectors. This company’s past collaboration with Motor Sich JSC, and its link to Vyacheslav Boguslaev—who faces accusations of treason—paints a complex picture of the international arms trade’s intersections with Ukrainian defense procurement.
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