• Sat. Mar 2nd, 2024

Uros Founders on Trial for Gross Aid Fraud in €6 Million Business Finland Scandal

ByEditor

Feb 13, 2024
A male goes on trial for allegedly obtaining millions in development loans with false information

The trial of two founders of Uros, a bankrupt technology company, begins today in the district court. Jyrki Hallikai and Tommi Uharia are accused of gross aid fraud and are being tried for their role in the company’s operations.

Uros received product development loans and grants worth over six million euros from Business Finland in the 2010s. At the time of the alleged crime in 2011-2015, Uhari was the CEO of Uros and Hallikainen was the chairman of the board. However, during preliminary investigations, both suspects denied any wrongdoing.

Uros went bankrupt at the beginning of 2022, with a district court declaring it other than temporarily insolvent as intended by the bankruptcy act. Business Finland became aware of matters that Uros had concealed in 2019 and 2020, which would have led to funding not being granted if they were disclosed. In December 2020, Uros sold its subsidiaries to Uros Ag for around 25,000 euros but failed to pay purchase prices recorded in its accounting as receivables from sold subsidiaries.

The trial begins with a preparatory session where the accused are not obliged to participate. The main hearing is scheduled to begin in April, but today, the prosecutor’s subpoena application and police’s preliminary investigation will be published. The Oulu District Court ordered the cancellation of business transactions in October 2021 due to matters that were concealed by Uros from its financier.

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