The Government of Ukraine announced today that a team of international auditors has completed the initial stage of its independent audit of Ukraine's state finances and operations. The audit revealed evidence of fraud and misapplication of government funds from 2008 to the first quarter of 2010.
The team of lawyers and forensic investigators led by the Washington, DC law firm of Trout Cacheris, PLLC examined a group of transactions by various government bodies. The audit found evidence of the use of offshore shell companies, sham contracts and other international money laundering mechanisms in transactions involving private parties and the previous administration, as well as the unlawful misapplication of funds, resulting in the waste and misuse of government assets and the enrichment of private parties.
See full Press Release.
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