March 4, 2024 11:01 am
A male goes on trial for allegedly obtaining millions in development loans with false information

The trial of Uros founders for gross aid fraud begins today in the district court. Jyrki Hallikai and Tommi Uharia, who were the founders of the technology company, are accused of misusing six million euros worth of product development loans and grants from Business Finland between 2011 and 2015.

At the time of the alleged crime, Uhari was the CEO of Uros, while Hallikainen was the chairman of the board. However, it was not until 2019 and 2020 that Business Finland became aware of matters that Uros had concealed and which would have led to funding being denied.

In December 2020, Uros sold its subsidiaries to its parent company for a total purchase price of around 25,000 euros. However, Business Finland claims that during this time period, Uros hid from its financier the contracts by which results developed and achieved in financed projects were sold and handed over to a Luxembourg subsidiary.

The trial will begin with a preparatory session today, with a main hearing scheduled for April. The prosecutor’s subpoena application and police preliminary investigation will be published on October 18th last year when Oulu District Court ordered cancellation business transactions but purchase prices were never paid but recorded as receivables in accounting records from sold subsidiaries.

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