On 4th November, KYC 360 reported that Ukrainian billionaire oligarchs Ihor Kolomoisky and Hennadiy Boholyubov face a London civil suit alleging they used fake purchasing agreements and fraudulent loans to embezzle $1.72 billion from Ukraine into offshore businesses through 3 UK companies. It says that a Kyiv Post investigation has uncovered 2 accountancy firms, a law firm and multiple individuals in the UK and Cyprus connected to these companies that may have played a role in the alleged scheme. The state-owned PrivatBank has been suing its former owners in the UK, US and Cyprus, trying to reclaim assets, and the total claimed in the UK was $1.9 billion, – now at least $3 billion as interest and legal costs accrued. The London case is built around 3 UK companies involved in the alleged schemes, which fall under UK jurisdiction and funds loaned to 42 Ukrainian shell companies.
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