Ukraine’s primary security agency has officially accused tycoon Ihor Kolomoisky of fraud and money laundering in a significant development on Saturday, designating one of the country’s most prominent businessmen as a suspect in an ongoing criminal investigation.
This action against Kolomoisky, who is recognized as one of Ukraine’s wealthiest individuals and previously supported President Volodymyr Zelenskiy during his successful 2019 election campaign, unfolds at a time when Kyiv aims to demonstrate progress in its crackdown on corruption, particularly in the midst of ongoing wartime conditions.
The Security Service of Ukraine (SBU) asserted, “It was established that during 2013-2020, Ihor Kolomoisky legalized more than half a billion hryvnias ($14 million) by withdrawing them abroad and using the infrastructure of banks under (his) control,” in a statement.
Kolomoisky, who has consistently denied allegations of wrongdoing, was not available for immediate comment.
The SBU also released images on the Telegram messaging app depicting a group of detectives at Kolomoisky’s residence, serving him with legal documents, which he subsequently signed.
Kolomoisky, subject to U.S. sanctions since 2021, belongs to the oligarch class that accumulated vast industrial wealth following the collapse of the Soviet Union in 1991, wielding considerable political and economic influence.
Prior to Russia’s invasion of Ukraine in February of the previous year, President Zelenskiy and his administration sought to curtail the influence of oligarchs through legislation mandating their registration and disengagement from politics.
As a consequence of the war, the power of oligarchs has waned, with valuable industrial assets destroyed in the eastern and southern regions, and their television channels operating under centralized wartime control.
Before ascending to the presidency, Zelenskiy gained fame as a comedian and played the role of president in a show broadcast on a television channel owned by Kolomoisky. Zelenskiy has consistently denied that Kolomoisky has had any influence over his government.
This latest development marks the first wartime action involving Kolomoisky. In November of the previous year, the state assumed control of stakes in major strategic enterprises, some of which were linked to him, using wartime legislation to support the war effort.
Earlier this year, security authorities conducted a search at Kolomoisky’s residence in connection with a separate inquiry into embezzlement and tax evasion linked to the country’s two largest oil companies, both of which had partial ownership ties to the businessman.
Kolomoisky is a former proprietor of PrivatBank, a leading Ukrainian financial institution that was nationalized in late 2016 as part of a comprehensive overhaul of the banking sector.
Throughout his career, he has held a diverse array of assets spanning the energy, banking, and other sectors, including ownership of one of Ukraine’s most influential television networks.
The United States imposed sanctions on Kolomoisky in 2021, citing his involvement in significant corruption. U.S. authorities have also alleged that Kolomoisky and a business partner engaged in the laundering of stolen funds through the United States, allegations that Kolomoisky has consistently denied.
