Court Slashes Kobolyev's Bail from 80 to 50 Million Hryvnias: Inside the Case

Bail Reduction for Andriy Kobolyev

According to Главком: Ukraine's High Anti-Corruption Court has lowered the bail for Andriy Kobolyev, the former head of Naftogaz's executive board, from 80 million to 50 million hryvnias. Kobolyev is suspected of embezzling over 229 million hryvnias in 2018. The decision followed a motion from his defense team, who argued that the reduction was necessary because the bail sponsor wanted to reclaim the funds for energy projects.

The defense also claimed that the risks in the case had diminished since nearly all witnesses had already been questioned. Currently, only two prosecution witnesses remain who refuse to testify, along with three witnesses who are abroad. Meanwhile, a request for international legal assistance is being processed. The prosecutor from the Specialized Anti-Corruption Prosecutor's Office (SAPO) opposed the defense's stance, highlighting the risk of Kobolyev fleeing and the potential for him to influence witnesses.

Charges and Financial Details

To recap, in January 2023, investigators from Ukraine's National Anti-Corruption Bureau (NABU) and SAPO notified Kobolyev of suspicion regarding the embezzlement of over 229.25 million hryvnias in 2018. According to case materials, these funds were illegally paid to Kobolyev throughout 2018, representing the difference between his actual bonus and the maximum allowable amount. In May 2018, the then-CEO of Naftogaz (who served from 2014 to 2021) issued a bonus order, based on which Kobolyev received nearly 261 million hryvnias for extraordinary achievements, including a favorable ruling in a case concerning a natural gas purchase and sale contract from 2009 to 2019.

Between 2017 and 2022, Andriy Kobolyev accrued over 413 million hryvnias in income. Notably, in April 2021, he was paid a 338.6 million hryvnia severance bonus upon his dismissal. As of 2017, Kobolyev's average monthly salary was equivalent to 31,500 euros, which was 136 times higher than the national average wage.

The reduction in Andriy Kobolyev's bail signals the continuation of a legal process that has drawn significant public attention due to his former high-profile position and the corruption allegations against him. This ruling could impact the course of the investigation, as a lower bail may make it easier for Kobolyev to access resources for his defense. At the same time, the prosecutor's position underscores the seriousness of the charges and the risks associated with the suspect potentially fleeing.

The recent reduction of bail for Andriy Kobolyev raises questions about the handling of high-profile corruption cases in Ukraine. Similar to the recent case of the former tax chief, where the court also significantly lowered bail, these developments highlight the ongoing challenges in prosecuting financial crimes. For more insights on how the judiciary is addressing such cases, you can read about the bail adjustments in Nasirov's bribery trial.