Court freezes more than 136 million euros in Uros founder’s assets

Yle reports that the Oulu District Court has ordered assets worth more than 136 million euros belonging to Jyrki Hallikainen, founder of the company Uros, frozen in three separate rulings.

The orders are security measures intended to prevent Hallikainen from hiding or disposing of his assets. He is suspected of offences that could lead to substantial compensation claims, and the court said there was reason to believe he might conceal or dispose of his property.

Court documents say Hallikainen is suspected of several counts of aggravated fraud alleged to have taken place in 2020 and 2021. He is suspected of giving false information about Uros’s financial position and prospects to people and companies that bought shares in the company or granted it loans. One allegation is that he persuaded his neighbour to buy Uros shares for 120 million euros.

Hallikainen opposed the request to freeze his assets. Earlier seizures of his property have expired because charges were not brought before the deadline. The latest rulings can be appealed.

Uros and Hallikainen’s finances have previously been examined in court. Last year, a district court dismissed charges of aggravated subsidy fraud against Uros’s founders. This summer, it was reported that Finland’s National Bureau of Investigation was investigating a broad financial crime case related to Uros.