Prosecutors will apply for Ukrainian oligarch's bail to be increased to almost US$156 million

Following new allegations against Ukrainian businessman Ihor Kolomoiskyi, the Prosecution will ask Kyiv’s Shevchenkivskyi District Court to increase bail to UAH 5.8 billion (approx. US$155.6 million) - more than an elevenfold increase.

Source: Ukrainska Pravda sources in law enforcement

Details: According to Ukrainska Pravda’s information, the prosecutors will be filing an application to the court requesting that Ihor Kolomoiskyi’s bail be increased in connection with new allegations.

They are seeking an increase from 190,000 times the living wage for able-bodied people to 2.19 million times the living wage, that is, from nearly UAH 510 million to nearly UAH 5.8 billion (about US$155.6 million).

Background:

• On 1 February 2023 the Security Service of Ukraine and the Economic Security Bureau of Ukraine searched the home of Ihor Kolomoiskyi in the city of Dnipro as part of their investigation into criminal schemes concerning the Ukrainian oil companies Ukrtatnafta and Ukrnafta.
• On 2 September, the Security Service of Ukraine, the Economic Security Bureau and the Prosecutor General's Office served Kolomoiskyi with a notice of suspicion under Articles 190 and 209 of the Criminal Code for fraud and legalisation (laundering) of property obtained by criminal means. The case concerns the legalisation of UAH 5.8 billion (approx. US$155.6 million) by transferring the sum abroad via banking institutions under his control. Under the pre-trial restrictions selected by Kyiv’s Shevchenkivskyi District Court, Kolomoiskyi was remanded in custody for a period of 60 days with the option to post bail in the amount of almost UAH 510 million (approx. US$13,315,927). Kolomoiskyi does not intend to post bail until his appeal is considered.
• On 15 September, Ihor Kolomoiskyi was served with a new notice of suspicion under three articles of Ukraine’s Criminal Code: illegal actions in respect of remittance documents, payment cards and other means providing access to bank accounts, electronic money and equipment for their production; misappropriation of property by an official through abuse of office, committed by an organised group on an especially large scale; and legalisation (laundering) of the proceeds of crime.
• According to the investigation, in 2013-2014 Kolomoiskyi illegally appropriated UAH 5.8 billion (approx. US$155.6 million) after setting up a criminal group made up of employees of Privatbank, of which he was founder and a shareholder.

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