The State Bureau of Investigation is investigating the possible illegal sale of 27 hectares on the Black Sea coast. It is about the arrested lands transferred to the Asset Recovery and Management Agency (ARMA).

According to one of the rulings in the court register, ARMA could have violated the rules of electronic tender procedure. In particular, the Agency gave about a week to prepare for the auction of seized property with the help of electronic tender (SETAM) system. Although pursuant to regulatory documents, the ARMA should have set a deadline of at least thirty days, because this very case is about selling real estate.

In addition, there is a doubt about the appropraite assessment of the Black Sea land. According to the ruling, the investigators of the State Bureau of Investigation consider the price of lots as understated.

Creating an effective institution responsible for conservation of seized assets and their management is a very important step of anti-corruption reform. Mezhyhirya, Dubnevichi CHP, offices in Gulliver,”Yanukovych helipad”, “Wojciechowski’s self-build”, assets of the NACBU-SAP defendants – ARMA is responsible for the temporary management and sale.

TI Ukraine has already sent numerous requests to ARMA, SETAM and SBI to clarify the circumstances of the case and identify potential opportunities for corruption abuses.

As a reminder, last week the head of the legal department of TI Ukraine published a column on NW.Business, which briefly and essentially describes the two most important blocks   of SETAM problems.

There is a doubt about the appropraite assessment of the Black Sea land. According to the ruling, the investigators of the State Bureau of Investigation consider the price of lots as understated.