The Security Service of Ukraine (SBU) has announced that Ihor Kolomoisky, the detained Ukrainian business magnate, faces a third set of allegations in addition to his initial arrest on suspicion of fraud and money laundering. This development emerged during a recent court hearing in Kyiv, where the demanded bail for Kolomoisky was significantly from nearly $14 million to approximately $105 million. Allegedly, no bail will be posted.
The new allegations against one of Ukraine’s wealthiest individuals were initially reported by Serhiy Leshchenko, a former investigative journalist and parliamentarian who currently serves as an adviser in President Volodymyr Zelenskiy’s office.
The SBU, working in conjunction with Ukraine’s Economic Security Bureau and the prosecutor general’s office, alleges that Kolomoisky received 5.8 billion hryvnias from an alleged scheme to misappropriate funds from PrivatBank, an institution he co-founded and in which he held a significant stake. This sum, now valued at $157 million, was equivalent to over $700 million at the time, according to the SBU. Kolomoisky is suspected of orchestrating an organized group of bank employees to carry out this alleged scheme from 2013 to 2014
.At the time of reporting, Reuters had not been able to reach Kolomoisky or his legal representatives for comment regarding these new allegations. It’s worth noting that Kolomoisky has consistently denied any wrongdoing.
Ihor Kolomoisky is among the group of business tycoons who accumulated wealth and political influence following the dissolution of the Soviet Union and played a prominent role in Ukraine’s emerging democracy. He is subject to U.S. sanctions and was previously a supporter of President Zelenskiy, actively endorsing his election in 2019.
Kolomoisky was once the owner of PrivatBank, which was nationalized in late 2016 as part of a broader effort to reform Ukraine’s banking sector. Earlier this month, he was served notice of suspicion for fraud and money laundering and was ordered to remain in custody until the end of October. In a separate case, the National Anti-Corruption Bureau of Ukraine (NABU) identified Kolomoisky as one of six individuals suspected of embezzling 9.2 billion hryvnias (equivalent to $250 million) from PrivatBank.President Zelenskiy’s administration is actively combatting corruption and working to diminish the influence of business magnates as Ukraine seeks closer ties with the European Union.
