Uros Founders Facing Trial for Gross Aid Fraud in District Court

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

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

The case concerns product development loans and grants worth more than six million euros in total, which Uros received 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.

Uros was declared bankrupt at the beginning of 2022, with its bankruptcy decision considering that it was other than temporarily insolvent as intended by the bankruptcy act. According to Business Finland, in 2019 and 2020 it became aware that Uros had concealed matters that would have led to funding not being granted if it had been disclosed.

In December 2020, Uros sold its subsidiaries to its parent company’s Luxembourg subsidiary for a total purchase price of around 25,000 euros. However, according to Business Finland, in 2019 and 2020 it became aware that Uros had concealed contracts related to financed projects and their results were sold and handed over to its Luxembourg subsidiary without disclosing them to Business Finland as required by law.

The trial begins with a preparatory session where both accused are not obliged to participate. The main hearing is scheduled to begin in April but will be published on this day along with a prosecutor’s subpoena application and police preliminary investigation report. In October last year, Oulu District Court ordered cancellation of business transactions involving sale of subsidiaries without payment purchase prices recorded as receivables from sold subsidiaries

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