U.S. seeks to seize two properties worth $70 million in Ukraine bank scandal – IOTW Report

U.S. seeks to seize two properties worth $70 million in Ukraine bank scandal

Just The News: “The complaints allege that Ihor Kolomoisky and Gennadiy Boholiubov, who owned PrivatBank, one of the largest banks in Ukraine, embezzled and defrauded the bank of billions of dollars,” according to the DOJ. MORE

“The complaints allege that they laundered a portion of the criminal proceeds using an array of shell companies’ bank accounts, primarily at PrivatBank’s Cyprus branch, before they transferred the funds to the United States. As alleged in the complaint, the loans were rarely repaid except with more fraudulently obtained loan proceeds,” the Department said.

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