Ukrainian businessman accused of orchestrating $60 million grain export scheme to Saudi Arabia

Ukraine has concluded a multi-year investigation into a major corruption scheme involving state grain sales, resulting in over $60 million in losses for the State Food and Grain Corporation of Ukraine. The scheme, allegedly orchestrated by businessman Oleksiy Fedorychev, involved selling state grain at reduced prices to affiliated companies, with funds diverted to offshore accounts. Grain was exported to Saudi Arabia without payment to the state corporation. The investigation revealed meetings between Fedorychev and state corporation officials, as well as intercepted communications discussing price manipulation and offshore company usage. Several individuals have already been convicted in connection with the case.