Sat. Feb 24th, 2024
A male goes on trial for allegedly obtaining millions in development loans with false information

The trial of suspected crimes in the operations of the company Uros begins today in the district court. The founders of the technology company, Jyrki Hallikai and Tommi Uharia, are accused of gross aid fraud.

Uros, which has since gone bankrupt, received more than six million euros in product development loans and grants from Business Finland in the 2010s. At the time of the alleged crime in 2011-2015, Uhari was the CEO and Hallikainen was the chairman of the board. Uhari left Uros some years ago, while Hallikainen has been the main owner of Uros.

The case concerns allegations that Uros concealed matters that would have led to a denial of funding by Business Finland. In December 2020, Uros sold its subsidiaries to its parent company for around 25,000 euros. However, according to Business Finland, it became aware that Uros had concealed matters that would have led to a denial of funding if not for this sale. It also claimed that Uros hid from Business Finland contracts by which results developed and achieved in financed projects were sold and handed over to a Luxembourg subsidiary.

In October 2021, the Oulu District Court ordered the cancellation of business transactions between Uros and its parent company due to suspicion of fraudulent activity related to these transactions. However, purchase prices were never paid and were recorded as receivables from sold subsidiaries in Uros’ accounting books.

The trial begins with a preparatory session but will move on to a main hearing scheduled for April. The prosecutor’s subpoena application and police preliminary investigation report will be published today as part of this process.

By Editor

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