PrivatBank won a court case in London against Kolomoisky and Bogolyubov
This was announced by PrivatBank's press service.
The court recognized that both entrepreneurs illegally transferred nearly 2 billion US dollars from the bank through a complex refinancing scheme. This decision became an unequivocal victory for the state bank, nationalized in 2016 due to a capital shortfall of $5.5 billion.
Judge Trauer described the actions of the defendants as part of "Byzantine fraud," noting that Kolomoisky "considered himself above the law," and Bogolyubov used "deceptive documents" to conceal his involvement in the scheme. Both refused to testify in court, likely due to a reluctance to answer questions about their role in embezzlement. The court also recorded instances of document destruction that could serve as evidence in the case.
The final amount of Kolomoisky and Bogolyubov's liabilities is still being determined, but it is already known to be at least $1.7 billion excluding interest over more than ten years. With interest and legal costs, the amount could exceed $2 billion. Further hearings on financial matters are expected later this year.
In 2017, PrivatBank achieved a worldwide seizure of the defendants' assets and is now preparing for the forced recovery of damages.
"This is a remarkable victory not only for the bank but also for the state of Ukraine and its citizens," said Nils Melngailis, Chairman of PrivatBank's Supervisory Board.
The bank's legal representative, Richard Lewis, noted that this was one of the most complex cases in the history of English courts, where the defendants "gave false testimony, destroyed evidence, and tried to shift blame onto others."
