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. The police have previously said that the suspects denied the acts during the preliminary investigation.

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 company’s CEO and Hallikainen was the chairman of the board. Uhari left Uros some years ago, while Hallikainen has been the main owner of Uros.

In December 2020, Uros sold its subsidiaries to a Luxembourg group for around 25,000 euros. However, according to Business Finland, it became aware of matters that Uros had concealed and which would have led to funding being refused if they had been known at the time. It is alleged that Uros hid from its financiers contracts that outlined how results developed and achieved in financed projects were sold to a subsidiary based abroad.

Uros was declared bankrupt at the beginning of 2022 due to other than temporary insolvency as intended by law. According to Business Finland, it became aware of issues with Uros’ financial reporting in 2019 and 2020. It then realized that funding would not have been granted if these issues had been disclosed earlier on. In October last year, an Oulu District Court decision cancelled all business transactions made by Uros after October 6th, including those involving its subsidiaries sold abroad without paying for them.

By Editor

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