Kolomoisky charged with stealing $156m from Privatbank

Ukrainian oligarch Ihor Kolomoisky has been charged with misappropriating UAH 5.8 billion (USD 155.6 million) from PrivatBank, a bank he owned before it was nationalised in 2016, signalling a new criminal case for a figure once omnipotent in Ukraine.

In a statement, the security service of Ukraine, or SBU, said Mr Kolomoisky is suspected of illegal actions with means of accessing bank accounts, seizure of other people's property through abuse of office by an organised group of people, and money laundering.

In 2013 and 2014, Mr Kolomoisky allegedly illegally seized UAH 5.8 billion by creating a criminal group of employees of PrivatBank, which he was a founder and shareholder of, the SBU claims.

The group allowed the oligarch to make fictitious "cash deposits to the bank's cash desk", while in fact the bank did not receive any deposits.

The scheme, the SBU says, allowed Mr Kolomoisky to receive UAH 5.8 billion, which was credited to the oligarch’s personal account. The oligarch used the money to pay for business and lend and pay off loans to companies under his control.

Mr Kolomoisky would also transfer the money abroad, cash it, and withdraw.

Earlier this month, Mr Kolomoisky was charged with fraud and money laundering in a separate case.

According to the investigation, during 2013-2020, he legalised more than UAH 500 million (USD 13.6 million) by syphoning them abroad, while using the infrastructure of controlled banking institutions.

Later, the court ordered that the oligarch be arrested for two months. Since refusing to post bail, he will remain in custody until 25 September.