Ukraine uncovers $1 million embezzlement in major Kyiv power plant restoration, SBU says
Businesspeople from several companies embezzled about Hr 50 million (over $1 million) during the restoration of the Trypillia Thermal Power Plant in Kyiv Oblast, which was damaged by Russian attacks, the Security Service of Ukraine (SBU) said on Feb. 27.
According to an investigation, two company heads were involved in the scheme. Between 2023 and 2025, the companies won tenders and signed contracts worth more than Hr 500 million ($11.5 million) for the reconstruction of the power plant, the SBU said.
The Trypillia power station was completely destroyed in a Russian strike on Ukrainian energy infrastructure in the spring of 2024 as part of Moscow's broader campaign to cripple Ukraine's energy grid.
The plant, operated by Ukraine's state-owned energy company Centrenergo, is located less than 30 kilometers (18 miles) south of Kyiv and was the main power supplier to Kyiv, Zhytomyr, and Cherkasy oblasts.
The suspects allegedly inflated the cost of services, construction materials, and equipment during the repairs, then divided the excess funds among those involved in the scheme.
"Contractors purchased work materials from affiliated companies, where the cost was 30% higher than the market price," the SBU statement read. "Thus, during 2023-2025, they transferred almost Hr 50 million ($1 million) to the accounts of affiliated companies and laundered the money."
Six people, including three alleged ringleaders, two company heads, and an accomplice, were charged with embezzlement, misappropriation, abuse of office, and money laundering.
If convicted, they could face up to 12 years in prison with the confiscation of their assets.
