Ukraine’s security service, the SBU, said on Thursday it froze the assets of the Ukrainian oligarch Vadym Novinksy.

Among the assets frozen are the corporate ownership rights to 40 businesses and 30 gas fields in Ukraine. The freeze is reportedly worth 3.4 billion hryvnas.

photo by Ukraine’s Office of Prosecutor General’s Office

According to reports, the oligarch who was long part of pro-Russian party Opposition Platform for Life tried to avoid the sanctions by handing over the ownership rights to font companies and employed notaries for such registration.

The re-registration deals were red-flagged and canceled by Ukraine’s justice ministry.  Police raids helped to recover the documents and other evidence of the scheme. The search also seized pro-Russian religious literature.  State investigators are also gathering other evidence to build the case against Novinsky.

Photo by Prosecutor General’s Office