Kolomoisky loses to PrivatBank in London court: Bereza predicts an attack on Zelensky
30 July 02:58
Ukrainian oligarchs Ihor Kolomoisky and Hennadiy Boholyubov have lost their case against PrivatBank in the London Commercial Court. It is a dispute over almost $5 billion, which, according to the state-owned bank, was withdrawn before nationalization through fraudulent schemes. Former MP Boryslav Bereza reported on the court’s decision, "Komersant Ukrainian" reports
The trial was held at the suit of Privatbank. The bank demanded compensation for losses for the withdrawn assets, which it estimates at $1.951 billion. With interest, the amount exceeded $4.2 billion.
Lawyers of the financial institution stated that Ihor Kolomoisky and Hennadiy Boholyubov withdrew funds from the bank through loans to related companies. According to them, it was a “fraudulent scheme of loan recycling,” when some loans were used to pay off others and conceal losses.
Kolomoisky and Boholyubov embezzled a little more than $1.9 billion using loan recycling, the bank’s defense said, providing evidence to prove Kolomoisky and Boholyubov’s involvement in the entities through which the “fraudulent loan scheme” was carried out.
The funds were withdrawn through six offshore companies – three in the UK and three in the British Virgin Islands. They are also defendants in the case.
The former MP noted that this verdict is a powerful precedent not only in the legal but also in the political field.
“The court recognized the rightness of the state-owned PrivatBank. It’s not just a loss for Kolomoisky and Boholyubov – it’s a judicial fact that may have consequences for other players,” Bereza said.
Bereza suggests that the court’s decision may trigger a wave of investigations. In particular, he alludes to the possible resurfacing of offshore documents from the Panama Papers, which may be linked to President Volodymyr Zelenskyy’s entourage and Kvartal 95.
Bereza also does not rule out that Kolomoisky may try to retaliate with dirt on the president.
Kolomoisky may resort to a counterattack, for example, by publishing materials that will hit Zelenskyy, the former MP predicts.
Nationalization of PrivatBank
The nationalization of PrivatBank took place in 2016, when the bank was declared insolvent due to a significant capital shortage. According to the NBU’s decision, the bank was unable to fulfill its obligations for financial rehabilitation, which was confirmed by an international audit company.
In order to avoid a systemic crisis in the banking sector, the Ukrainian government decided to withdraw the bank from the market with the participation of the state, which helped to maintain financial stability in the country.
The state provided additional capitalization of over UAH 155 billion.
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What Kolomoisky is accused of in Ukraine
Ihor Kolomoisky is currently in a Ukrainian pre-trial detention center. Ukrainian law enforcement officers have served him with three notices of suspicion under several articles and cases.
on September 2, 2023, the SBU notified Kolomoisky of suspicion under two articles: fraud and legalization (laundering) of the proceeds of crime. According to law enforcement officials, between 2013 and 2020, Kolomoisky legalized more than half a billion hryvnias, transferring them abroad and using the infrastructure of controlled banking institutions.
on September 7, NABU detectives served another suspicion on Kolomoisky and five members of the group he organized – of misappropriating PrivatBank’s funds worth more than UAH 9.2 billion.
on September 15, the SBU served Kolomoisky with the third suspicion – of illegal actions with bank documents, seizure of property by an organized group through abuse of office, and money laundering. According to the investigation, between 2013 and 2014, Kolomoisky illegally seized UAH 5.8 billion through a criminal group consisting of employees of his PrivatBank.
on September 3, 2023, the court for the first time imposed a pre-trial restraint on Kolomoisky: detention with an alternative to bail in excess of UAH 509 million. However, already on September 15, after a new suspicion was announced, the court re-selected the measure of restraint and increased the amount of bail for Kolomoisky to UAH 3 billion 891 million.
After that, the court extended Kolomoisky’s detention four times, while reducing his bail twice – on November 28 to UAH 3 billion and on December 21 to UAH 2.7 billion.
on February 28, Kyiv’s Shevchenkivskyi District Court extended Ihor Kolomoiskyi’s detention for another two months – until April 25 – and reduced his bail to UAH 2.4 billion.
It should be noted that on May 8, Kolomoisky was notified of being suspected of ordering the murder of a law firm director for personal revenge.
At the same time, back in 2005, a criminal case was already initiated against Kolomoisky in this regard, which was later closed. Back in 2015, former MP and now advisor to the head of the OP Serhiy Leshchenko wrote in his blog why the case was closed and what it had to do with former Prosecutor General Sviatoslav Piskun and oligarch Viktor Pinchuk.
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