Archive · 30 Jul 2025
UK Court Rules Against Ukrainian Tycoons in $1.9B Bank Fraud Case
Two rich Ukrainian businessmen, Kolomoisky and Bogolyubov, lost a court case in London.
The court said they took $1.9 billion from a Ukrainian bank, Privatbank, using fake loans.
The bank had to be saved by the government because of this.
The businessmen said they did nothing wrong, but the court found they must pay the bank back.
This is important because it deals with how powerful people in Ukraine used their money.
Ukrainian tycoons lost a UK court case over $1.9 billion fraud at Privatbank.
The bank alleged Igor Kolomoisky and Gennady Bogolyubov funneled funds via sham loans.
The court determined Kolomoisky and Bogolyubov are liable for compensation.
The ruling is significant for Ukraine, reckoning with powerful oligarchs.
Kolomoisky and Bogolyubov denied wrongdoing, calling the claims politically motivated.
- Who
- Igor Kolomoisky and Gennady Bogolyubov, along with Privatbank.
- What
- Court ruled against Ukrainian tycoons in $1.9 billion bank fraud case.
- When
- The ruling was published Wednesday.
- Where
- London, UK
- Why
- The ruling addresses alleged fraudulent schemes that caused significant financial harm to Privatbank.
- Bank
- Privatbank PJSC
- Amount Allegedly Funneled
- $1.9 billion
- Defendants
- Igor Kolomoisky and Gennady Bogolyubov
- Judge
- William Trower
- Year of Alleged Scheme
- 2013-2014
- Date of ruling
- Wednesday