A male goes on trial for allegedly obtaining millions in development loans with false information

In the district court of Oulu, the trial of suspected crimes in Uros, a technology company that went bankrupt in 2022, begins today. The founders of Uros, Jyrki Hallikai and Tommi Uharia, are accused of gross aid fraud. The police previously stated that the suspects denied any involvement in the alleged crime during preliminary investigations.

The case involves product development loans and grants worth over six million euros in total, which were received by Uros from Business Finland in the 2010s. At the time of the alleged crime between 2011 and 2015, Uhari was CEO of Uros and Hallikainen was chairman of the board. Uhari left Uros some years ago while Hallikainen remained as one of its main owners.

The prosecutor’s subpoena application and police’s preliminary investigation report will be published today as part of the preparatory session. The main hearing is scheduled to begin in April. However, it has been reported that an October 2021 decision by Oulu District Court canceled all business transactions made by Uros due to suspicion that they may have been illegal under Finnish law. This includes a sale made by Uros for a purchase price of around 25 thousand euros to its parent company group subsidiary in Luxembourg; however, no payment was ever made for these transactions, but were recorded as receivables on their accounting books.

By Editor

Leave a Reply