New Charges for Kolomoisky: Alleged Scheme Involving Over 100 Million Hryvnias

Kolomoisky Faces Fresh Allegations

According to Главком: Ukraine's Security Service (SBU) and the Prosecutor General's Office have announced new charges against Ihor Kolomoisky, the former beneficial owner of PrivatBank. He is accused of illegally seizing more than 100 million hryvnias in 2014. According to law enforcement, the scheme involved issuing loans to companies under his control without proper collateral or a legitimate business purpose, causing significant financial damage to the bank.

Specifically, in 2014, the businessman and his associates unlawfully took over 100 million hryvnias belonging to PrivatBank. Investigators say the loans were granted without adequate security and lacked any real economic rationale. In December 2014, hundreds of millions of hryvnias were transferred to Kolomoisky's personal account. These actions reportedly resulted in losses exceeding 100 million hryvnias for the bank.

Legal Ramifications and Broader Context

The charges fall under Article 190, Part 4 of Ukraine's Criminal Code, which covers large-scale fraud committed by an organized group. Conviction could lead to up to 12 years in prison. Case materials indicate that controlled companies received loans without proper guarantees, and the assets were funneled through various legal entities and individuals to create the appearance of normal financial activity.

“Some of these assets eventually ended up in the personal accounts of the scheme's organizers under the guise of contract fulfillment,” the SBU stated.

In September 2023, Kolomoisky was already charged with money laundering and fraud. Between 2013 and 2020, he allegedly laundered over half a billion hryvnias by moving funds abroad. The court initially set bail at 3 billion 712 thousand hryvnias, later reduced, with the next hearing postponed to December 11.

Notably, the businessman's legal team recently filed an appeal against a ruling by the High Court of London in a lawsuit brought by PrivatBank seeking damages. Additionally, on April 9, 2026, the European Court of Human Rights accepted Kolomoisky's application No. 2652/26 regarding the alleged unlawful deprivation of his citizenship.

This case highlights the lengthy and complex nature of financial crime investigations in Ukraine, particularly those involving PrivatBank. As Kolomoisky remains a prominent figure in the country's business landscape, the outcome of this trial could have broader implications for the banking sector and investment climate. Observers suggest that such proceedings may be crucial for advancing financial transparency and anti-corruption efforts in Ukraine.

As Kolomoisky faces serious legal challenges in Ukraine, his situation is further complicated by an ongoing case regarding his citizenship status. The European Court of Human Rights is set to review his appeal concerning the loss of his citizenship, which could have significant implications for his legal battles. For more details on this aspect of the case, see the developments surrounding Kolomoisky's citizenship appeal.