Ukrainian billionaire and former Volodymyr Zelenskyy ally detained for fraud

1 Min Read

A Kyiv court has ordered the detention of Ukrainian billionaire Ihor Kolomoisky, a former close associate of President Volodymyr Zelenskyy, on suspicion of fraud and money laundering. The 60-year-old tycoon will be detained for two months with an alternative of posting a bail of more than 509 million Ukrainian hryvnias (around $14 million).

Kolomoisky is one of Ukraine’s richest men and the co-founder of PrivatBank, the largest financial institution in the country. He is accused of transferring more than half a billion Ukrainian hryvnias (around $13.5 million) abroad using the infrastructure of controlled banking institutions between 2013 and 2020.

Kolomoisky backed Zelenskyy’s candidacy during the 2019 presidential election. Before becoming president, Zelenskyy rose to fame as a comedian, acting on a television channel owned by Kolomoisky. However, Zelenskyy has repeatedly denied that the businessman has had any influence over his government and vowed to fight corruption in Ukraine.


Share This Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *