Mriya owner wanted by Ukraine law enforcement for fraud

Обзоры по компаниям и отраслям 19.01.2015 Ukraine's Interior Ministry has put Mykola Guta, the chairman of the board of Mriya Agroholding (MRIYA, MAYA GR), on its wanted persons list, local media reported on Jan. 16. He is suspected in “fraud committed on a large scale or in an organized group,” according to the ministry's website. "Large scale" means in excess of USD 45,000, punishable by five to 12 years imprisonment with confiscation of property, according to Ukrainial criminal legislation. Recall, on Aug. 1, 2014, Mriya reported it defaulted on debt obligations and initiated restructuring talks with all debt holders. On Aug. 13, the company clarified that the default involves USD 187 mln in total failed obligations and confessed that its total debt had been USD 200 mln higher than it had reported in IFRS statements. Talks on restructuring started only in October and proved fruitless.