Ukrainian Authorities Serve Ihor Kolomoisky With New Fraud Suspicion Over UAH 100 Million PrivatBank Misappropriation Scheme

Ukraine’s SBU serves Ihor Kolomoisky with a new suspicion notice for UAH 100 million misappropriation. Fraudulent credit schemes allegedly funneled funds to personal accounts.

By: AXL Media

Published: May 1, 2026, 7:52 AM EDT

Source: Information for this report was sourced from the Security Service of Ukraine, Interfax-Ukraine, and NV (The New Voice of Ukraine).

The Uncovering of a Decadelong Financial Scheme

The Security Service of Ukraine (SBU) and the Office of the Prosecutor General officially documented new episodes of alleged criminal activity involving Ihor Kolomoisky on May 1, 2026. Investigators have presented evidence suggesting that the former beneficial owner of PrivatBank orchestrated a fraudulent misappropriation of over UAH 100 million during the 2014 fiscal year. While official Telegram statements from the SBU referred to a "prominent businessman," law enforcement sources and case details have confirmed the suspect is Kolomoisky. The case centers on the illegal withdrawal of credit resources from the financial institution, which was then masked through a series of artificial transactions to appear as legitimate business activity.

Mechanics of the Controlled Enterprise Loans

The core of the investigation focuses on a "re-lending" scheme where enterprises under Kolomoisky's direct or indirect control received substantial loans from PrivatBank. According to the SBU, these loans were issued without adequate collateral and lacked any genuine business purpose or economic rationale. Once the funds were released, they were funneled through a chain of legal entities and individuals to create a veneer of normal financial circulation. This multi-layered transit was designed to obscure the trail of the money, making it difficult for internal bank auditors or regulatory bodies to identify the ultimate destination of the credit resources.

Direct Transfers to Personal Accounts Documented

Prosecution materials indicate that the final stage of the fraudulent scheme involved the transfer of these laundered assets into the personal accounts of the organizers. Specifically, investigators highlighted an event in December 2014 when hundreds of millions of hryvnias were moved directly to Kolomoisky’s personal account from an enterprise he controlled, disguised as the performance of a business contract. The SBU has currently verified losses to the bank exceeding UAH 100 million from this specific branch of the investigation, though officials noted that the total amount of damage is still being clarified as the pre-trial process continues.