Ukrainian prosecutors have opened a large-scale investigation into agribusinessman and former regional politician Andriy Hordiichuk over suspected financial misconduct involving his company Svarog West Group.
According to investigators, the case is linked to loans totaling around 185 million Ukrainian hryvnias (approximately €3.9 million) obtained from multiple banks. The funds were reportedly used to purchase agricultural machinery, including a large number of tractors, which later became central to the investigation.
Alleged loan misuse under investigation
Authorities suspect that the machinery purchased with bank loans was later used as collateral for additional financing. In some cases, the same assets were allegedly reused to secure new loans, raising concerns about the structure and legitimacy of the financial operations.
Investigators claim that these transactions allowed continued borrowing while increasing total debt exposure. The overall financial activity is being examined as part of the broader Andriy Hordiichuk fraud case, which focuses on possible misuse of credit and misrepresentation of assets.
Farmers report unpaid deliveries
The investigation also covers agricultural trade operations linked to the suspect. According to prosecutors, more than 800 tons of rapeseed were purchased from farmers under agreements promising full payment after export.
However, farmers allegedly received only partial advance payments, while the remaining amount was never paid despite the goods being exported and sold abroad. This led to estimated losses of around €230,000 for agricultural producers.
Authorities say this part of the case shows that the alleged scheme may have extended beyond banking activity and directly impacted local farmers.
