A senior official from the Ukrainian Defense Ministry has been arrested on charges of embezzling $40 million in connection with a contract for artillery shells. The Ukrainian Security Service (SBU) alleges that the official initially signed an agreement with an export company to purchase artillery shells but later entered into a more favorable contract directly with the manufacturer, bypassing intermediaries and reducing costs. The SBU claims that the official extended the original, more expensive contract and funneled the funds to an affiliated foreign intermediary firm. If found guilty, the official could face up to 15 years in prison, and the Ukrainian Ministry of Defense is working to recover the funds.
Best Coverage: https://www.cnn.com/2023/12/23