Ukraine Freezes $80 Million of Businessman Kolomoisky's Assets

Ukrainian media announced that anti-corruption agencies in Ukraine froze assets belonging to businessman Ihor Kolomoisky exceeding $80 million for a period of 48 hours as part of an embezzlement investigation. A warrant was issued for Kolomoisky's detention last week on suspicion of money laundering, and media reports indicate he is considered a suspect in the embezzlement case. Kolomoisky's lawyers have not yet responded to requests for comments regarding the asset seizure or the investigation into the embezzlement case. Kolomoisky denies any wrongdoing. The National Anti-Corruption Bureau of Ukraine stated that it has frozen assets worth over three billion hryvnias, in addition to approximately a thousand properties and more than 1,600 vehicles belonging to the former owner of PrivatBank, which was nationalized in late 2016 as part of a cleanup of the Ukrainian banking system. The bureau did not mention Kolomoisky's name in its statement. These accusations come at a time when Kyiv is seeking to demonstrate its progress in combating corruption during wartime, which is a significant step to bolster its hopes of joining the European Union.