Ukraine Corruption Continues: Corrupt Billionaire Behind Zelensky’s Rise To Fame & Power Arrested

Ukraine Corruption Continues: Corrupt Billionaire Behind Zelensky’s Rise To Fame & Power Arrested
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With an estimated fortune of just under $1.7 billion, Ihor Kolomoisky is among Ukraine’s top five richest citizens. Over the weekend he was arrested by Ukraine authorities on an array of fraud and money laundering charges, at a sensitive moment the government is trying to show the world it can tackle deeply rooted corruption.

A Saturday statement from the Security Service of Ukraine (SBU) said that the billionaire, referred to as the “de facto owner of a large financial and industrial group” – had allegedly tried to launder over 500 million Ukrainian hryvnia ($13.5 million) by “transferring it abroad, while using the infrastructure of banking institutions controlled by him.”

A Kyiv court has ordered him to pretrial detention for two months amid an ongoing investigation, with bail having been set at a whopping $14 million.

Importantly, The New York Times in its Tuesday coverage of Kolomoisky’s arrest highlighted that he was an early major backer of now President Volodymyr Zelensky who had a hand in bringing him to power. He’s also widely believed to have funded extremist private militia armies at various times.

Writes the NY Times: “His business interests have included oil and banking, and he was once considered a patron of Mr. Zelensky, a former comedian whose popular shows were broadcast on Mr. Kolomoisky’s television channel before he successfully ran for the presidency.”

And further very revealing details are included in the Times report as follows:

Suspicions of corruption and embezzlement have dogged Mr. Kolomoisky for years. In 2017, he left Ukraine for Switzerland and Israel after the government of then-President Petro O. Poroshenko seized a bank he co-owned and accused him of a large-scale fraud that threatened to destabilize Ukraine’s economy.

He returned in 2019 after Mr. Zelensky’s defeat of Mr. Poroshenko, raising fears that his ties to the new president would help him regain his economic and political clout.

So naturally, Western mainstream press is now presenting this as a “big fish” prosecution showing Zelensky is getting “tough” and finally going gloves-off on exposing long-standing corruption.

The timing is also interesting given Zelensky just sacked his own defense minister, an announcement which came the same weekend as billionaire Kolomoisky’s arrest. “This week, parliament will be asked to make a personnel decision … I have decided to replace the minister of defense of Ukraine. Oleksii Reznikov has gone through more than 550 days of full-scale war,” Zelensky said over the weekend. 

And guess who was degrees of separation away from Hunter Biden, related to shady Bursima relationships? “Besides being connected through the Burisma energy giant, Hunter Biden did business with Igor Kolomoisky’s bank,” one prior report reads.

As for the dismissed defense minister, Reznikov was at the center of an anti-graft probe into the military’s paying inflated prices for imported items, sometimes at triple or more the cost, the profits of which are believed to have lined the pockets of top military officials. There’s also the recent recruiting scandal, where top military recruiters were given large bribes to allow individuals to avoid conscription.

In the backdrop is Ukraine’s application to join the European Union. Of course, the fact that Ukraine tops the list of Europe’s most corrupt societies will remain a major hurdle likely for years to come.

Russian media has meanwhile pointed out that Kolomoysky has personally entered the political arena at times, and that his money has hugely impacted the country in ways known and unknown:

Kolomoysky burst on to the political scene in 2014, when he was appointed governor of the southeastern Dnepropetrovsk Region following a Western-backed coup in Kiev. A year later, however, he was dismissed from his post over a conflict with then-Ukrainian President Pyotr Poroshenko amid a struggle for control of Ukrnafta and state-owned oil pipeline operator Ukrtransnafta.

In 2016, Ukrainian authorities also nationalized Kolomoysky’s PrivatBank, after declaring it a major threat to the country’s financial system, following allegations of large-scale fraud.

Kolomoysky is also widely considered to have played a major role in the rise to power of President Vladimir Zelensky. Before launching his political campaign in 2019, Zelensky was a comedian, whose show was hosted by a Kolomoysky-controlled media holding. The magnate himself said he “wanted” Zelensky to become president, but denied close contacts with him.

In this particular case it’s very likely Washington has brought pressure to bear on Kyiv, given that as far back as 2021 the US State Dept. sanctioned Kolomoysky and his family members. A US statement at the time said he was engaged “in corrupt acts that undermined rule of law and the Ukrainian public’s faith in their government’s democratic institutions.”

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  119. When I initially commented I appear to have clicked on the -Notify me when new comments are added- checkbox and from now on each time a comment is added I recieve four emails with the exact same comment. Is there an easy method you are able to remove me from that service? Kudos.

  120. An impressive share! I have just forwarded this onto a colleague who was doing a little research on this. And he actually bought me dinner simply because I found it for him… lol. So allow me to reword this…. Thank YOU for the meal!! But yeah, thanks for spending the time to discuss this topic here on your internet site.

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  125. An outstanding share! I have just forwarded this onto a co-worker who was doing a little homework on this. And he in fact bought me lunch due to the fact that I found it for him… lol. So allow me to reword this…. Thanks for the meal!! But yeah, thanks for spending some time to talk about this matter here on your web site.

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  128. An impressive share! I have just forwarded this onto a colleague who had been conducting a little research on this. And he actually ordered me lunch due to the fact that I found it for him… lol. So let me reword this…. Thanks for the meal!! But yeah, thanx for spending the time to talk about this topic here on your site.

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  130. After I originally commented I seem to have clicked on the -Notify me when new comments are added- checkbox and now each time a comment is added I get 4 emails with the same comment. There has to be an easy method you can remove me from that service? Thanks.

  131. Oh my goodness! Impressive article dude! Thank you, However I am having troubles with your RSS. I don’t understand the reason why I am unable to subscribe to it. Is there anybody getting similar RSS problems? Anyone that knows the answer will you kindly respond? Thanx!

  132. Hello! I could have sworn I’ve visited this blog before but after going through a few of the posts I realized it’s new to me. Regardless, I’m certainly happy I discovered it and I’ll be book-marking it and checking back frequently!

  133. Can I simply just say what a relief to find somebody that actually understands what they’re talking about on the net. You definitely know how to bring a problem to light and make it important. More and more people really need to look at this and understand this side of the story. I was surprised you are not more popular since you surely have the gift.

  134. I seriously love your website.. Very nice colors & theme. Did you create this site yourself? Please reply back as I’m hoping to create my very own blog and would like to learn where you got this from or exactly what the theme is named. Many thanks!

  135. Right here is the perfect web site for anybody who wants to find out about this topic. You realize so much its almost tough to argue with you (not that I really would want to…HaHa). You definitely put a new spin on a topic that’s been discussed for decades. Wonderful stuff, just great.

  136. An impressive share! I have just forwarded this onto a co-worker who has been conducting a little research on this. And he in fact ordered me breakfast due to the fact that I discovered it for him… lol. So allow me to reword this…. Thank YOU for the meal!! But yeah, thanx for spending time to talk about this matter here on your site.

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  139. An outstanding share! I have just forwarded this onto a colleague who has been conducting a little homework on this. And he actually bought me breakfast due to the fact that I stumbled upon it for him… lol. So let me reword this…. Thank YOU for the meal!! But yeah, thanx for spending time to discuss this matter here on your blog.

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  143. Howdy! This blog post couldn’t be written much better! Looking at this post reminds me of my previous roommate! He continually kept talking about this. I’ll forward this post to him. Fairly certain he will have a great read. Thank you for sharing!

  144. Having read this I thought it was very enlightening. I appreciate you spending some time and energy to put this article together. I once again find myself spending a significant amount of time both reading and leaving comments. But so what, it was still worth it.

  145. After I initially commented I appear to have clicked the -Notify me when new comments are added- checkbox and from now on whenever a comment is added I receive four emails with the same comment. Is there a way you are able to remove me from that service? Cheers.

  146. Hi, I do think this is a great website. I stumbledupon it 😉 I’m going to return once again since i have saved as a favorite it. Money and freedom is the best way to change, may you be rich and continue to help others.

  147. Can I simply just say what a relief to find a person that genuinely knows what they’re discussing on the internet. You definitely understand how to bring an issue to light and make it important. More and more people ought to check this out and understand this side of the story. I was surprised you aren’t more popular given that you surely possess the gift.

  148. I’m impressed, I have to admit. Rarely do I come across a blog that’s equally educative and engaging, and let me tell you, you’ve hit the nail on the head. The problem is an issue that too few people are speaking intelligently about. Now i’m very happy that I came across this in my search for something regarding this.

  149. Can I simply just say what a relief to uncover someone that actually knows what they are discussing on the net. You definitely realize how to bring a problem to light and make it important. A lot more people should look at this and understand this side of your story. It’s surprising you aren’t more popular because you definitely possess the gift.

  150. The very next time I read a blog, Hopefully it does not fail me just as much as this particular one. After all, Yes, it was my choice to read, but I really thought you would have something helpful to say. All I hear is a bunch of crying about something you can fix if you were not too busy looking for attention.

  151. Howdy! This article couldn’t be written any better! Reading through this post reminds me of my previous roommate! He continually kept preaching about this. I most certainly will send this information to him. Pretty sure he will have a good read. Many thanks for sharing!

  152. You’re so cool! I don’t believe I’ve truly read a single thing like that before. So nice to find someone with original thoughts on this topic. Really.. thank you for starting this up. This web site is something that’s needed on the web, someone with a little originality.

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