From the Organized Crime and Corruption Reporting Project:
Anti-corruption authorities are investigating the offshore companies of two brothers that are on the brink of receiving hundreds of millions in compensation from the country’s largest state run bank following a ruling that is being described as a colossal failure of the Ukrainian justice system.
After the Pechersk District Court ordered that PrivatBank must pay US$350 million to companies belonging to Hryhoriy and Ihor Surkis, the National Anti-Corruption Bureau of Ukraine (NABU) revealed on Monday that it has launched a criminal probe that will examine whether the brothers’ attempt to seize these assets through the courts is even legal.
The Surkis brothers have sought to reclaim deposits from six of their offshore companies since PrivatBank converted them into shares when it became nationalized in 2016 – a move that was made by the government following what the former chairwoman of Ukraine’s central bank described as “one of the biggest financial scandals of the 21st century.”According to multiple reports, the brothers are known business associates of the main architects of the scheme, Ihor Kolomoisky and Gennadiy Boholiubov, the former owners of the Privatbank, who – as revealed in an investigation by OCCRP – managed to embezzle $5.5 billion from its coffers.
Ultimately, Ukranian taxpayers had to shoulder a $5.9 billion bailout of the bank after the country assumed ownership of the bank....
....MUCH MORE
Previously:
April 2019
"Oligarchs Weaponized Cyprus Branch of Ukraine’s Largest Bank to Send $5.5 Billion Abroad"
August 9, 2020
"How $1.8 billion in aid to Ukraine was funneled to the outposts of the international finance galaxy"
August 11, 2020
Federal agents raid offices of company tied to Ukrainian oligarch
