Son of ex-Motor Sich CEO legalized money in Monaco: he was detained
2 May 11:01
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Ukrainian law enforcement officials, together with their colleagues from France and Monaco, have detained the son of the former president of Motor Sich, Oleksandr Boguslaev, on suspicion of laundering more than $650 million in criminal proceeds. This was reported by "Komersant Ukrainian" with reference to the Prosecutor General’s Office.
According to the investigation, by 2014, the former president’s family had concentrated more than 65% of the company’s shares through offshore companies. After the outbreak of war with Russia, the shares were illegally transferred to representatives of a foreign state without the permission of the state of Ukraine, despite the fact that the company is a strategic defense asset.
Between 2016 and 2025, the ex-owner’s son used the proceeds of the transaction to acquire assets in France and Monaco. In April 2025, law enforcement officers conducted searches and detained him in Monaco. They found valuable property registered in the names of trustees. He has already been notified of suspicion under the article on legalization of the proceeds of crime.
Meanwhile, in Ukraine, the former owner of Motor Sich was also notified of suspicion of misappropriation and legalization of property on a particularly large scale.
The investigation is being conducted by the SBU Main Investigation Department, with operational support provided by the SBU’s Main Directorate I.
What is known about the Boguslayev family and the corruption scandal around Motor Sich
Viacheslav Bohuslaev is a Ukrainian engineer and politician who has been the head of Motor Sich, one of the world’s leading aircraft engine manufacturers, for more than two decades. His son, Oleksandr Bohuslaev, was also involved in the company’s activities.
In October 2022, the Security Service of Ukraine detained Viacheslav Bohuslaev on suspicion of high treason and aiding the aggressor state. The investigation established that Motor Sich’s management supplied aircraft engines to Russia that were used in military equipment.
Journalistic investigations revealed that the Bohuslaev family owns a significant amount of luxury real estate abroad, particularly in France and Dubai. In France, their assets are estimated at several million euros, and in Dubai – at more than $15 million.
Following the arrest of Vyacheslav Boguslaev and the discovery of irregularities in the company’s operations, Motor Sich was nationalized and transferred to the Ministry of Defense of Ukraine. This decision was made to ensure the strategic security of the state and prevent further abuse.
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