A court in Kiev has ordered the Ukrainian oligarch Kolomojskyj to be held in custody. He is accused of fraud and money laundering. President Selenskyj had recently distanced himself more and more from his former sponsor.
Ukrainian oligarch Ihor Kolomojskyj has been arrested on suspicion of fraud and money laundering. A court in Kiev on Saturday evening ordered a two-month pre-trial detention for the former sponsor of President Volodymyr Zelenskyj, Ukrainian media reported. At the same time, a bail of the equivalent of around 12.7 million euros was set, if paid, the billionaire would be released until the court hearing.
The SBU secret service had previously informed Telegram that it had handed over Kolomojskyj’s investigation results. Accordingly, the 60-year-old is accused of criminal activities, including fraud and the legalization of ill-gotten property. The businessman is said to have exported more than half a billion hryvnia between 2013 and 2020. The investigation under the supervision of the Attorney General’s Office continued, it said.
Support for the 2019 election campaign
Before the Russian invasion of the country, Kolomoiskyj was one of the richest men in Ukraine. In addition to a number of assets in the energy, banking and other sectors, he also owned one of Ukraine’s most influential television channels. Selenskyj had previously appeared there as a comedian, which made him known throughout the country.
Kolomojskyj later supported the current head of state during the presidential election campaign in 2019. Most recently, however, Zelenskyj had distanced himself more and more from the oligarch and, according to reports, also revoked his Ukrainian citizenship.
Listed on the US sanctions list
Kolomojskyj has had a dubious reputation for years. He is on a US sanctions list and is not allowed to enter the USA because he is accused of corruption and anti-democratic activities.
He has been under investigation in Ukraine since last year, and there have also been several house searches. In November, his stakes in parastatal oil and gas companies were confiscated because of the war with Russia. In February, there was talk of “misappropriation of petroleum products” worth the equivalent of 930 million euros.
“Rule of law must prevail”
Selenskyj also took the case of the prominent oligarch as an opportunity to send a demonstrative message against corruption and white-collar crime: Anyone who robs the country and puts themselves above the law will no longer be able to continue as before, the head of state promised in his daily video message on Saturday evening. “The rule of law must prevail,” he stressed. It is important that there is justice in proceedings that have not been pursued for years.
Zelenskyy has made the fight against corruption one of the priorities of his government. This is also important because of Ukraine’s desire to join the European Union. The EU requires effective anti-corruption measures as a criterion for accepting new members.