President of Ukraine signed a law on punishment for illegal enrichment

According to a statement on the official website of the head of state dated November 25, the presidentUkraina VolodymyrZelensky signed a law that criminalizes officials for illegal enrichment.

The bill was registered in Parliament by Zelensky himself, and Ukrainian lawmakers adopted it on October 31, establishing criminal liability of officials for illegal enrichment. 

Now the acquisition of assets by stateemployees who exceed his income by more than 15 thousand tax-free minimums (225 thousand hryvnia), threatens him with imprisonment from five to ten years. In addition, corrupt officials face not only imprisonment, but also confiscation of property obtained illegally, as well as a three-year ban on holding positions in state structures.

The law is not only about cash and non-cash funds, but also about cryptocurrency, intangible assets, property rights and provided services in large amounts.

Consideration of claims to recognize the assets of officials as illegally acquired and the decision on their confiscation will be within the competence of the High Anti-Corruption Court. 

All assets whose legal origin cannot be proven in court will be considered illegal and subject to recovery by the state by a court decision in the manner prescribed by law.