Ukraine Unveils $4.7 Billion Fraud Scheme Involving Over 2,300 Shell Companies
Ukrainian tax authorities have uncovered a suspected large-scale fraud scheme in which more than 2,300 shell companies funneled approximately $4.7 billion abroad through fictitious foreign trade operations between January 2024 and early 2026. The State Tax Service reported that the vast majority of transactions were exports: 1,243 companies conducted shipments valued at over 176 billion…