Ukraine's Finance Minister confirms arrest of assets of PrivatBank ex-owners

Source : 112 Ukraine

The Head of the Ministry is confident the arrest will help to return $5 billion worth of loans into the state budget
22:13, 21 December 2017

Open source

Ukraine’s Finance Minister, Oleksandr Danylyuk, has approved the High Court of London’s decision to arrest the assets owned by the former owners of Privatbank Ihor Kolomoisky and Hennadiy Boholiubov – as well as six companies that are allegedly under their ownership or control. The press service of the Finance Ministry said that in the official statement.

“We welcome this positive decision of the English court. As of today, the state has actually spent almost $5 billion on the increase of Privatbank’s capital because money was previously withdrawn from the bank or insufficiently-substantiated loans were issued, and those are not being paid back. These $5 billion belong to each citizen, every taxpayer, and they need to be returned to the state budget,”- said the head of the institution.

At the same time, Ihor Kolomoisky himself considers the High Court of England’s decision regarding the arrest of his and his business partner Hennadiy Bogolyubov’s assets as temporary and such that will only remain in force until the end of court proceedings.

Related: Kolomoisky gives evidence to NABU on "criminal group" that took Privatbank

On 19 December, the High Court of England issued a decree for arrest of assets worldwide owned by the Privatbank’s ex-owners Ihor Kolomoisky and Hennadiy Boholiubov in relation to the lawsuit filed by Privatbank against its previous owners.

This decision was made based on the evidence that almost $2 billion was illegally withdrawn by Ihor Kolomoisky and Hennadiy Boholiubov from the bank. It is evident that the money was transferred to companies secretly under their ownership or were controlled by them. Now Privatbank aims to get that amount back, along with the interest payments – altogether around $2.5 billion.

Related: Ukraine's authorities try to make oligarch Kolomoisky plug the leaks of PrivatBank

In response to the allegations made against him by the financial institution, Ihor Kolomoisky has denied that the aforementioned amount was withdrawn from the bank, claiming it was issued as part of credit portfolio restructuring to companies that have paid the loans taken by previous borrowers.

Related: Case on embezzling PrivatBank funds: office, plant, and plane arrested by court

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