Skip to content
Edit post

Court extends Kolomoisky's arrest until December

by Elsa Court and The Kyiv Independent news desk October 27, 2023 6:41 PM 1 min read
Ukrainian business tycoon and one of Ukraine's most famous oligarchs, Ihor Kolomoisky, was arrested after being suspected of fraud at a court hearing in Kyiv on Sept. 2, 2023. (Maxym Marusenko/NurPhoto via Getty Images)
This audio is created with AI assistance

The detention of one of Ukraine's richest men, Ihor Kolomoisky, has been extended for another month, Kyiv's Shevchenkivskyi district court ruled on Oct. 27.

The term was due to expire on Nov. 2. The judge ruled that Kolomoisky will remain in pretrial detention until at least Dec. 2.

The judge also ordered that the detention center to organize a medical examination of Kolomoisky after his lawyer expressed concerns about client's deteriorating health.

Kolomoisky, one of Ukraine's most well-known business tycoons and billionaires, was arrested on Sept. 2 for fraud and money laundering related to his oil and gas holdings.

The National Anti-Corruption Bureau of Ukraine (NABU) handed Kolomoisky additional criminal charges on Sept. 7, accusing him of embezzling $250 million from PrivatBank in 2015.

Following the new charge, the Shevchenkivskyi district court increased the oligarch's bail from Hr 509 million ($14 million) to Hr 3.89 billion ($106 million).

The prosecutor said this was in part due to the fact that the oligarch had lost his Ukrainian citizenship and is now a citizen of Israel, which creates a risk of him hiding abroad.

Kolomoisky used to control Ukrtatnafta, Ukraine's largest refining company until it was seized by the government in November, citing it as a critical national resource during martial law.

The company reportedly refused to pay Hr 3.2 billion ($90 million) in taxes last year.    

He also owned over 40% of Ukrnafta, an oil and gas extractor, through multiple smaller companies in his orbit. The Ukrainian state seized this company as well last year.

In 2016, the government also nationalized PrivatBank, the country's largest bank - when Kolomoisky co-owned it, the bank's fraudulent activities left a $5.5 billion hole in its balance sheet.

The oligarch's business dealings through these companies careened from scandal to scandal over the previous decade.

Kolomoisky also faces various lawsuits and charges in the U.K., U.S., Israel, and Ukraine.

Support independent journalism in Ukraine. Join us in this fight.
Freedom can be costly. Both Ukraine and its journalists are paying a high price for their independence. Support independent journalism in its darkest hour. Support us for as little as $1, and it only takes a minute.
visa masterCard americanExpress

News Feed

Ukraine Daily
News from Ukraine in your inbox
Ukraine news
Please, enter correct email address
2:23 PM

NATO members say they are not considering sending troops to Ukraine.

NATO Secretary-General Jens Stoltenberg, as well as leaders of Germany, the U.K., and other European NATO member states, have reportedly said they are not considering deploying their troops to Ukraine after French President Emmanuel Macron suggested the possibility of Western military presence in the country.
12:56 PM

Ex-lawmaker Pashynskyi released on bail.

Former lawmaker Serhii Pashynskyi, suspected of illegally appropriating almost 100,000 metric tons of state-owned oil in 2014, was released from custody on bail, Pashynski said on social media on Feb. 27. The bail was set at Hr 272.5 million ($7.1 million).
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.