Smart Ventures Limited: Stepan Chernovetskyi, founder of leading venture capital firm Chernovetsky Investment Group, criticizes prohibitive Spanish secret summary procedure
(Thomson Reuters ONE) -
Stepan Chernovetsky, leading Ukrainian businessman and founder of top Eastern
Europe venture capital firm Chernovetsky Investment Group, was arrested in July
2016 as part of a national Spanish police investigation into alleged money
laundering offences and tax evasion. Almost one year on from his arrest and
release, he is still unaware of the allegations against him.
In July 2016, Mr Chertnovetskyi - then living in Barcelona with his family - was
taken from his home and incarcerated for one month. His legal team successfully
appealed his imprisonment. Three judges of the Appeal Court unanimously ordered
for Mr. Chernovetskyi's release without any conditions to his freedom. They were
satisfied that there was a lack of prima facie evidence of the alleged offences
of money laundering or tax evasion.
Despite this, Mr Chernovetskyi is still unaware of the detail of the allegations
against him. The Spanish investigation remains under the secret summary
procedure, meaning that those under investigation are not given information on
the background of the potential charges against them. The procedure has
previously been criticized in a report by Fair Trials International because of
its potential to infringe a person's right to liberty.
Mr Chernovetskyi has several times called out for the secret summary procedure
to be lifted so that he can properly defend his position and continue to run his
business.
His venture capital firm Chernovetskyi Investment Group (CIG) is one of the
largest investment companies in Ukraine investing in technology and innovation
businesses. It is also currently looking to support Ukraine's traditional
strength in agriculture and food production and considering funding requests
from agri-businesses. In 2014-15 Ukraine was the third largest grain exporter in
the world after the US and the European Union. Chernovetskyi Investment Group
sees potential for further growth with the right investment in agricultural
technologies and modernization.
Mr. Chernovetskyi says, "All I seek is the opportunity to defend myself and my
business interests against these groundless allegations against me - one of my
most basic human rights. The secret summary procedure is not only obstructing my
ability to achieve justice but also my ability to run my venture capital
business. I am determined to clear my name and am confident I will do so, as the
most recent appeal judgment in my favour indicates."
Mr. Chernovetskyi has always been fully open and cooperative with the
investigation and has instructed independent reputable consultants to undertake
a forensic investigation into his financial affairs. He is confident that this
will prove that he has been a victim of police error.
For media enquiries, please contact: Chernovetskyi(at)BellPottinger.com
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Smart Ventures Limited via GlobeNewswire
Datum: 26.04.2017 - 09:00 Uhr
Sprache: Deutsch
News-ID 538376
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