News World U.S. moves to seize $70m in property from two Ukrainian oligarchs

U.S. moves to seize $70m in property from two Ukrainian oligarchs

The U.S. Justice Department on Thursday filed two lawsuits seeking to seize $70 million worth of property in Texas and Kentucky that it said was bought by two Ukrainian oligarchs with money misappropriated from a bank they controlled.

Federal prosecutors in a Miami court alleged that oligarchs Ihor Kolomoisky and Gennadiy Boholiubov stole billions of dollars from Privatbank, the Ukrainian institution which they owned.

Kolomoisky is one of the most prominent oligarchs in Ukraine and is regarded as a key political backer of Ukrainian president Volodymyr Zelenskiy, a former comedian who used to star in a TV series broadcast by a network owned by Kolomoisky.

U.S. prosecutors said that between 2008 and 2016, Kolomoisky and Boholiubov obtained fraudulent loans and lines of credit, some of whose proceeds they laundered through shell company accounts at PrivatBank’s Cyprus office before transferring the money to the United States.

U.S. prosecutors said audits by the National Bank of Ukraine in 2016 determined the oligarchs allegedly stole over $5 billion from PrivatBank. PrivatBank was nationalized by Ukrainian authorities after the alleged frauds were discovered in 2016.

Prosecutors said two associates of the oligarchs based in Miami created a web of businesses, often using the name “Optima”, to further launder stolen money. Some of the money was used to buy properties and companies in Louisville, Kentucky, and Dallas which the Justice Department is now seeking to seize, prosecutors said.

The Justice Department said the FBI’s Cleveland Division, the Internal Revenue Service and Customs and Border Protection, were investigating.

Two associates of former New York City mayor Rudolph Giuliani, an advisor to President Donald Trump, met in 2019 with Kolomoisky in Israel.

Bruce Marks, a Philadelphia lawyer who represents Kolomoisky, declined to comment. Reuters was unable to determine if Boholiubov had legal counsel.


Top Stories

Euro zone pledges continued fiscal support against Covid-19

Euro zone finance ministers have pledged continued fiscal support for their economies and discussed the design of post-pandemic recovery plans as the European Commission...

Total of 113 fines for violation of covid-19 restrictive measures

Police issued 111 fines to individuals and two more to shop owners all across Cyprus over the past 24 hours for breaching measures aiming...

Cyprus-UAE review prospects of advancing bilateral relations

The foreign ministers of Cyprus and the United Arab Emirates have reviewed the prospects of advancing relations between the two friendly nations across all...

New covid-19 cases on the decrease but hospital admissions on the rise in Cyprus

New coronavirus cases in Cyprus were on the decrease over the past couple of days but health experts are cautiously optimistic that the strict...

Approval of revised Cyprus 2021 budget closer but still not certain

It seems that approval of Cyprus’ revised 2021 budget which is to be put to the vote before parliament on Thursday is almost certain...


Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...


No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...