A major aid fraud case has been brought against the founders of technology company Uroš, with a trial set to begin today in the District Court. In 2010, Uroš received more than six million euros in loans and grants from Business Finland for product development, but it was later discovered that the suspects provided false information and concealed important facts during the investigation.
At the time of the alleged crime, one of the suspects was CEO and the other was chairman of the board. In 2022, Uroš was declared bankrupt with debts of at least 13.5 million euros and only about 14,000 euros in cash. It is said that Uroš received almost five million euros in product development loans and a grant of 1.25 million euros from Business Finland between 2011-2013. However, in 2019 and 2020, Business Finland discovered that Uros had covered up things which would have led to funds not being approved.
In December 2020, Uroš sold assets to its parent company at significantly lower prices, which led to subsidiaries being used to move its assets out of reach of creditors. The Oulu District Court ordered the annulment of business transactions in October 2021 due to non-response by Jirki Hallikainen who was considered representative of Uroš Ag in this case within deadline limit leading to one-sided verdict by court.