Appeal leaves Ukrainian oligarch in custody and US$108 million bail unchanged

The Kyiv Court of Appeal ruled on 25 September that the pre-trial restriction for oligarch Ihor Kolomoiskyi would remain unchanged.

Source: the court hearing

Kolomoiskyi, who has been served with three notices of suspicion with respect to the withdrawal of billions of hryvnias from the Ukrainian bank PrivatBank, has been in custody since 3 September.

The appeal left the pre-trial restriction unchanged: remand in custody and UAH 3.89 billion (US$108.3 million) bail.

Background:

• On 2 September, the Security Service of Ukraine (SSU), the Bureau of Economic Security and the Prosecutor General's Office served oligarch Ihor Kolomoiskyi with a notice of suspicion under Articles 190 and 209 of the Criminal Code: fraud and legalisation (laundering) of the proceeds of crime. Subsequently, Kolomoiskyi received two more notices of suspicion concerning the withdrawal of a total of UAH 15 billion (approx. US$406 million) from PrivatBank.
• Kyiv’s Shevchenkivskyi District Court remanded Kolomoiskyi in custody for 60 days with the option of bail of nearly UAH 510 million (US$13.3 million). The bail was subsequently increased to UAH 3.89 billion (US$101.5 million).
• On 8 September, the National Anti-Corruption Bureau and the Specialist Anti-Corruption Prosecutor's Office seized Kolomoiskyi's assets and property for two days.
• On 21 September, High Anti-Corruption Court judge Oleh Tkachenko refused to allow prosecutors from the Specialised Anti-Corruption Prosecutor's Office to seize Kolomoiskyi’s assets. 
• Kolomoiskyi faces up to 12 years in prison.

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