The US government filed a complaint accusing two Ukraine businessmen of defrauding PrivatBank of billions of dollars, the Department of Justice said in a news release
WASHINGTON (Pakistan Point News / Sputnik - 07th August, 2020) The US government filed a complaint accusing two Ukraine businessmen of defrauding PrivatBank of billions of dollars, the Department of Justice said in a news release.
"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," the release said on Thursday.
The complaints allege that Kolomoisky and Boholiubov, who owned PrivatBan, embezzled and defrauded the bank of billions of dollars, the Justice Department said.
"The two obtained fraudulent loans and lines of credit from approximately 2008 through 2016, when the scheme was uncovered ... 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," the release said.
The loans were rarely repaid except with more fraudulently obtained loan proceeds, the Justice Department added.
