International company Hyundai Corporation, PJSC Ukrsotsbank and several banks faced an unprecedented fraudulent scheme carried by Company Rona LLC (Ivano-Frankivsk), which resulted in damage of $ 30 million.
Co-founders of Company Rona LLC in the person of Roman Semotiuk, Roman Lytvynets and others fraudulently on falsified documents received loans from financial institutions for large sums. The fraudulent scheme is as follows: Company Rona LLC received loans and international contracts for the supply of goods, and guarantors for loans were companies that pledged as collateral fictitious and non-existing real property - i.e. real estate objects existing only "on paper" and registered at the state register of real estate on the basis of forged documents. When the employees of the bank went to inspect real estate, scammers placed signs with the proper bail address. The evaluation company Nexia DC. Evaluation Services represented by director Yevhen Lupak conducted an assessment of the facilities and provided false information to customers, which resulted in damages in especially large amounts.
According to the assessment of the affected parties, the total amount of damage inflicted by the Company Rona LLC and its owner Roman Semotiuk is about $ 30 million.
In particular, the international company Hyundai Corporation – $ 6.6 million and EUR 1.2 million, Ukrsotsbank – $ 6 million. Among other affected parties are state-owned and commercial banks, which lost about $ 11 million and UAH 110 million.
At the moment, Ivano-Frankivsk region prosecutor's office has initiated about 20 criminal cases on the forgery of documents, as well as damage in especially large amounts against the co-founder of Company Rona LLC Roman Semotiuk, as well as the management of the guarantor companies who provided non-existent objects as collateral. In October 2017, Roman Semotiuk was issued notice of suspicion and as a preventive measure, against Roman Semotiuk, a house arrest was ordered by the court.
The fraudulent actions of Company Rona LLC directed against the international company Hyundai Corporation (Hyundai Corporation) and banks, as well as the lack of timely and adequate response from law enforcement agencies, significantly worsen the investment attractiveness of Ukraine.
Today it is extremely important to demonstrate real steps to protect investors and progress in the implementation of law enforcement sector reforms to objectively and promptly investigate this situation, including the search and seizure of assets of officials and beneficiaries of Company Rona LLC and other companies involved in the fraudulent scheme. It is also important to investigate not only actions committed by officials, beneficiaries of Company Rona LLC and related companies, but also actions of employees of the State Registration Service of Ukraine and judges of the Ivano-Frankivsk City Court participating in the implementation of this fraudulent scheme.
The affected parties ask law enforcement agencies of Ivano-Frankivsk region, the General Prosecutor's Office of Ukraine to conduct an objective investigation and bring to responsibility the guilty within the shortest possible period of time.
"Taking into account that since the beginning of the year, when we faced the problem of debt repayment by the Company Rona, law enforcement agencies have not taken proper measures, and we have appealed for assistance to the General Prosecutor's Office of Ukraine to transfer the case from Ivano-Frankivsk to Kyiv and to resume the investigation. In our opinion, the positive outcome of a fair investigation into this case will be a signal from Ukraine to international companies on improving the investment climate and the practice of protecting the interests of creditors and investors," said Yeo Young-Chan, Vice President, Head of Legal Department at Hyundai Corporation.
"Today banks have enough liquidity to resume lending to the economy. However, this process is restrained, first of all, by the practice of encouraging non-fulfillment of obligations, in particular, non-repayment of loans, which is rooted in the mass consciousness and business culture. The case of Company Rona, when not only commercial banks, but also state financial institutions and international corporation suffered, impresses by cynicism, attainment level and corruption range", comments Rostyslav Matiash, the acting Chairman of the Board of Ukrsotsbank.
"Banks are ready to resume active lending to the economy, but in turn, they have the right to demand from the state to properly perform its functions: judicial power must guarantee justice, and law enforcement agencies must investigate without delay all facts of abuse. Without these principles, in the face of high legal risks, the banking system will not be able to provide the expected economic growth with resources," claims Roman Shpek, Chairman of the Council of the Independent Association of Ukrainian Banks.