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Court orders arrest of US-sanctioned oligarch Kolomoyskyi with bail option

Court orders arrest of US-sanctioned oligarch Kolomoyskyi with bail option

Kyiv’s Shevchenkivskyi District Court orders detention of prominent oligarch Ihor Kolomoyskyi for an initial period of 60 days, extending until October 31. The court’s ruling includes a provision for possible release on bail, with a staggering amount of nearly 510 million hryvnias ($19 million).

The move comes in response to a request filed by Ukraine’s Bureau of Economic Security (BEB), seeking the implementation of a detention measure against Kolomoyskyi. While the court granted this request partially, it underscores the government’s commitment to accountability for high-profile figures.

Ihor Kolomoyskyi faces accusations related to financial misconduct, including fraud and money laundering through the acquisition of assets acquired through criminal means. A former owner of Privatbank, one of Ukraine’s major financial institutions, Kolomoyskyi allegedly orchestrated the laundering of billions of hryvnias before 2015. The investigation into his activities has gained momentum, as his actions have had significant implications for Ukraine’s economic landscape.

Kolomoyskyi’s influence extends beyond domestic borders. In March 2021, he was sanctioned by the US Department of State for his involvement in “significant corruption” during his tenure as governor of Ukraine’s Dnipropetrovsk Oblast from 2014 to 2015. This move was seen as a signal to Ukrainian President Zelenskyy to address concerns surrounding influential oligarchs.

The recent suspicion raised by Ukraine’s Security Service and Bureau of Economic Security further underscores the commitment to addressing corruption at all levels. The Ukrainian government’s efforts to curb the influence of oligarchs have included nationalizing strategically important assets, initiating criminal cases, and imposing restrictions on media ownership and political support by oligarchs.

Ukraine’s Security Service officially notified of suspicion a notorious oligarch Kolomoyskyi who was sanctioned by the US

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