India
Ukrainian business magnate Ihor Kolomoisky, who was previously detained on suspicion of fraud and money laundering, now faces a fresh set of allegations, according to the Security Service of Ukraine (SBU). The new charges were announced on Friday, adding to the legal troubles of one of Ukraine’s wealthiest individuals.
In a Kyiv court hearing held on the same day, the bail amount demanded from Kolomoisky was significantly increased. Originally set at nearly $14 million, the bail figure was raised to the equivalent of $105 million.
Kolomoisky’s legal team had previously stated their intention to appeal his detention and had refused to post any bail.
The latest allegations against Kolomoisky were initially reported by Serhiy Leshchenko, a former investigative journalist and parliamentarian currently serving as an adviser in President Volodymyr Zelenskiy’s office.
The SBU, in collaboration with Ukraine’s Economic Security Bureau and the prosecutor general’s office, has accused Kolomoisky of receiving 5.8 billion hryvnias (equivalent to approximately $157 million) through an alleged scheme to embezzle funds from PrivatBank, an institution he founded and in which he held shares.
The SBU alleges that this sum, now valued at $157 million, was originally over $700 million at the time of the embezzlement from 2013 to 2014. According to the SBU, Kolomoisky is suspected of orchestrating an organized group of bank employees to facilitate the unlawful acquisition of these funds.
Efforts to obtain comments from Ihor Kolomoisky or his legal representatives regarding these new allegations have been unsuccessful thus far. Kolomoisky has consistently denied any wrongdoing.
Kolomoisky, like several other tycoons, amassed his wealth during the transition period following the Soviet Union’s dissolution and subsequently wielded significant political influence within Ukraine’s nascent democracy. He is currently subject to U.S. sanctions and was a prominent supporter of President Zelenskiy, whose election campaign he backed in 2019.
PrivatBank, which Kolomoisky once owned, was nationalized in late 2016 as part of broader reforms aimed at stabilizing Ukraine’s banking sector. Kolomoisky’s legal troubles began this month when he was served notice of suspicion for fraud and money laundering, leading to his detention until the end of October.
In a separate investigation, the National Anti-Corruption Bureau of Ukraine (NABU) identified Kolomoisky and five other individuals as suspects in the embezzlement of 9.2 billion hryvnias (equivalent to $250 million) from PrivatBank.
President Zelenskiy’s administration has been committed to combating corruption and diminishing the influence of business magnates as Ukraine strives for European Union membership.
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