The founders of the “Olympex” terminal face imprisonment

The founders of GNT Olimpex Holding Serhii Groza and Volodymyr Naumenko face 2 years in prison.

We are talking about two years of imprisonment due to non-payment of loan funds, disappearance of grain in the pledge and embezzlement of assets, writes Latifundist. 

A hearing will be held at the High Court of England on Friday, August 30.

It is known that the American investment companies Argentem Creek Partners and Innovatus Capital Partners appealed to the court with a request to send the founders of the Ukrainian import-export business GNT to prison. The reason for the lawsuit was violation of court orders regarding the disclosure of their assets.

The company received an order to freeze the assets and accounts of Serhiy Groza and Volodymyr Naumenko on January 13, 2023. But the creditors believe that the Ukrainians disclosed only part of the information about their real wealth in court.

“The asset and account freeze order comes as a result of the foreclosure process by creditors of Argentem and Innovatus that began in late 2022. This happened after GNT failed to take steps to exit the default in 2021 and could not explain the disappearance of 400,000 tons of grain and corn, which were held as collateral for the loan,” the material says.

The court ordered the businessmen to provide further disclosure of their assets in April 2024. However, in their statements, Groza and Naumenko did not explain why the $97 million in dividends received between 2014 and 2016 were not reflected in their accounts.

The plaintiffs claimed that the defendants did not comply with the court’s decision and therefore filed another lawsuit.

We will remind, “Olympex Coupe International” was built in Odesa port back in 2000. In May, the Bureau of Economic Security (BEB) published new facts confirming the export of grain from the Olympex terminal without paying taxes.