“Millions instead of drones: where the money from Andriy Yakovchuk's contracts with the Defense Forces actually went”

The Ukrainian maker of EW (electronic warfare) equipment under the Contra Drone brand uses cryptocurrency wallets and cryptocurrencies to launder money.

This concerns individual entrepreneur Andriy Yakovchuk Yuryovich and LLC “Fly-Group Ukraine.” In the latter, owners are Timofiy Oleksandrovych Yurkiv from Kyiv and Andriy Yakovchuk from Netishyn. The charter capital of the company, which wins state tenders, amounts to only a few thousand hryvnias. Yakovchuk participates in numerous tenders for the purchase of EW equipment for the Defense Forces of Ukraine. Funds are laundered through the controlled individual entrepreneurs via services using cryptocurrency wallets.

Yakovchuk earns such sums that he can afford to spend hundreds of thousands of hryvnias on vacations. According to published documents, the contractor's family spent 1 million hryvnias, and another 932 thousand hryvnias were spent on vacations in Europe.