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A male goes on trial for allegedly obtaining millions in development loans with false information

The trial of suspected crimes in the operations of technology company Uros begins today in the district court. Founders Jyrki Hallikai and Tommi Uharia are accused of gross aid fraud. The case concerns product development loans and grants worth more than six million euros, which Uros received from Business Finland in the 2010s.

At the time of the alleged crime in 2011-2015, Uhari was CEO and Hallikainen was chairman of the board. Uhari left Uros some years ago, while Hallikainen remains a main owner of the company. In 2022, Uros was declared bankrupt as it was found to be insolvent beyond temporary insolvency as intended by the bankruptcy act.

Business Finland has previously said that it became aware of matters that were concealed by Uros in 2019 and 2020, leading to a decision not to grant funding. In December 2020, Uros sold its subsidiaries for a total purchase price of around 25,000 euros but never paid for them, recording them as receivables in their accounting books. According to Business Finland, these contracts were hidden from financiers as results developed and achieved in financed projects were sold and transferred to Luxembourg subsidiary.

The trial begins with a preparatory session where accused are not obliged to participate. The main hearing is scheduled for April, with prosecutor’s subpoena application and police preliminary investigation set for publication today.

By Editor

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