Vladimir Sivak will not be imprisoned in the ZTMC case yet
The Court of Cassation suspended the execution of the sentence that sentenced the former the head of the Zaporizhia Combine to prison.
The Supreme Court suspended the execution of the sentence, which sentenced the former director of the Zaporozhye Titanium and Magnesium Combine Volodymyr Sivak to 3.5 years in prison for abuse of office for 18.6 million UAH
This decision was made on December 29 by the Cassation Criminal Court, according to Word and Deed.
Convicted Sivak asked to stop the execution of the sentence, since he holds the position of head of the board of Dneprogaz JSC, that is, he manages an enterprise that is classified as critical important infrastructure facilities under martial law. He also pointed out that he has six minor children and a non-working wife.
“To demand from the Zavodsky District Court of Zaporozhye the materials of the criminal proceedings regarding (Vladimir Sivak — ed.). Stop the execution of the sentence of the Appeals Chamber of the Supreme Anti-Corruption Court dated December 23, 2022,” the decision says.
The decision was made by a panel of judges composed of: presiding Vladimir Korol, judges Mykola Lagnyuk and Natalia Marchuk.
Recall, according to the prosecution, during 2014-2015, the co-owner company Tolexis Trading Limited allocated UAH 880 million to modernize the production of ZTMK LLC, according to the founding agreement. However, Sivak, abusing his official position and colluding with a group of people, embezzled UAH 492 million, transferring them to third parties. In particular, instead of financing the costs of modernization, the funds were directed to the accounts of SE ZTMK in order to pay off the debt of the latter to JSC Zaporozhyeoblenergo, PJSC Holding Company Energomerezha and LLC Sintez Resurs.
Except this, ZTMK LLC repaid the debt of SE ZTMC under a loan agreement to Nadra Bank and the overdue debt of SE ZTMC for the used electricity from JSC Zaporozhyeoblenergo. Whereas the last payment was to be made by Tolexis Trading Limited on the terms and conditions stipulated by the agreement on the founding of ZTMK LLC.
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