Kolomoisky to stand trial in the case of UAH 9.2 billion
The Specialized Anti-Corruption Prosecutor's Office filed an indictment against the former ultimate beneficial owner of PrivatBank, Igor Kolomoisky, and five former employees of the financial institution. They are accused of embezzling more than UAH 9.2 billion belonging to the bank.
Among the accused are the former chairman of the board of PrivatBank, a deputy head of direction and director of the interbank dealing department, the deputy chairman of the board and director of treasury, as well as two former heads of the bank's specialized units.
According to the investigation, in January - March 2015, one of the then owners of PrivatBank developed a scheme to finance a controlled offshore company and increase their own share in the authorized capital of the financial institution.
To this end, an organized group allegedly artificially created a bank's obligation to pay the controlled company over UAH 9.2 billion. The transaction was registered as a buyback of PrivatBank's own bonds at an inflated cost, state the anti-corruption authorities.
NABU and SAPO believe that relevant documents were forged to implement the scheme. The obtained money, according to the prosecution, was subsequently used by the group's participants at their own discretion.
Over UAH 446 million, as claimed by the investigation, was channeled through a number of controlled companies under the guise of securities transactions. As a result, the funds were transferred to the personal account of the former beneficial owner of PrivatBank, after which they were contributed to the company's authorized capital to fulfill the requirements of the financial recovery program.
The actions of the accused were classified under the Criminal Code articles on seizure of property through abuse of official position, legalization of criminal proceeds, and official forgery. The specific scope of charges depends on the alleged role of each participant.
The investigation of this episode was completed in July 2025. The NABU called it the fourth episode of the large-scale case of embezzlement of PrivatBank's funds.
The filing of an indictment does not mean that the defendants are found guilty. Their guilt must be proven in court and established by an indictment verdict that has entered into legal force.
