• Mon. Feb 26th, 2024

Uros Trial: Founders Faced with Gross Aid Fraud Allegations in Bankruptcy of Finland’s Largest Tech Startup

ByEditor

Feb 13, 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 bankrupt 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 involves 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, Hallikainen has been the main owner of Uros.

In October of last year, the Oulu District Court ordered the cancellation of business transactions with Luxembourg subsidiary and purchase prices were never paid but recorded as receivables from sold subsidiaries. In December 2020, Uros sold its subsidiaries to its parent group for a total purchase price of around 25,000 euros. According to Business Finland, it became aware of matters that Uros had concealed and which would have led to funding not being granted if they had been revealed.

Uros was declared bankrupt at the beginning of 2022. In its bankruptcy decision,

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