• Tue. Mar 5th, 2024

Business Trial in Oulu: Uros Founders Faced with Gross Aid Fraud Allegations

ByEditor

Feb 13, 2024
A male goes on trial for allegedly obtaining millions in development loans with false information

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

The case concerns product development loans and grants worth more than six million euros received by Uros 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. However, Uhari left Uros some years ago and Hallikainen has been the main owner of the company.

Uros was declared bankrupt at the beginning of 2022. In its bankruptcy decision, the district court considered that the company was other than temporarily insolvent as intended by the bankruptcy act. According to Business Finland, in 2019 and 2020 it became aware of matters that Uros had concealed and which would have led to the fact that funding would not have been granted.

In December 2020, Uros sold its subsidiaries to its parent company for a total purchase price of around 25,000 euros. However, according to Business Finland, in 2019 and 2020 it became aware of matters that Uros had concealed and which would have led to the fact that funding would not have been granted. It is alleged that Uros hid from its financier contracts by which results developed and achieved in financed projects were sold and handed over to a Luxembourg subsidiary.

Today’s preparatory session will be held with an application for a prosecutor’s subpoena made public as well as a preliminary investigation conducted by police officers on site at District Court Building A in Oulu city centre. The main hearing is scheduled for April but there won’t be any participation required from accused during this phase

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