Home Business NABU Suspects Former Chairman of Ukrkosmos of Frustrating First Ukrainian Satellite Launch

NABU Suspects Former Chairman of Ukrkosmos of Frustrating First Ukrainian Satellite Launch

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The former chairman of the state-owned enterprise Ukrkosmos was charged with embezzling more than eight million dollars allocated to construct a launch vehicle. This is stated on the website of the National Anti-Corruption Bureau of Ukraine.

On evidence, the former chairman, the former outside consultant to the Director general of the National Space Agency, and the intermediary agent organized a scheme for siphoning abroad and legalizing USD 8.245 million.

It is reported that the funds were part of the amount allocated in terms of the loan of the Canadian Export Agency under the guarantee of the Government of Ukraine and intended to construct a launch vehicle.

As a result, the launch of the first Ukrainian telecom satellite Lybid was frustrated, while Ukraine had already made a loan repayment of some 6 billion hryvnias. The launch of the vehicle was to be a key point in the implementation of the Country’s National Satellite Communications System.

It is remarked that the NABU officers proceed with their investigation. The ex-chairman of Ukrkosmos was sent a suspicion of the abusing his official position.

Scheme for embezzling funds allocated to build the National Satellite Communications System of Ukraine