Prominent Ukrainian Billionaire Detained Amid Corruption Crackdown

In a move that has taken many by surprise, Ukrainian authorities have detained one of the nation's most influential billionaires, Ihor Kolomoisky

by Faruk Imamovic
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Prominent Ukrainian Billionaire Detained Amid Corruption Crackdown
© Getty Images News/Omar Marques

In a move that has taken many by surprise, Ukrainian authorities have detained one of the nation's most influential billionaires, Ihor Kolomoisky, whose association with the country's president, Volodymyr Zelenskyy, has frequently been a topic of intrigue and speculation.

The announcement, made through the country's security service's Telegram channel, revealed that Kolomoisky is to be held in custody for a span of two months. He faces charges of fraud and money laundering. According to the agency, "It was established that during 2013-2020, Ihor Kolomoisky legalized more than half a billion hryvnias ($14 million) by withdrawing them abroad and using the infrastructure of banks under his control."

Zelenskyy's Stance on Corruption: A New Ukraine

President Volodymyr Zelenskyy, addressing the nation during his nightly TV segment, took a firm stance, suggesting an end to the longstanding era of impunity for the rich and powerful in Ukraine.

As he proclaimed, it would no longer be "business as usual for those who plundered Ukraine and put themselves above the law. Each of us feels that this will be a Ukraine with different rules." His statements, carried by global outlets including the BBC News, resonate with his anti-corruption campaign that swept him into power in 2019.

Zelenskyy's ascent to the presidency was fueled by a promise to root out corruption, an issue that has plagued Ukraine for years. His mandate was clear - to address this endemic problem head-on. The narrative takes an interesting turn when one considers Kolomoisky's return to Ukraine.

The oligarch had been in self-imposed exile and chose to come back mere weeks after Zelenskyy's election. His flight was a result of accusations made by the previous president, Petro Poroshenko. Kolomoisky was accused of siphoning millions of dollars from a bank he oversaw, leading to its bailout.

Adding a layer of complexity to this relationship is the fact that Kolomoisky owns the TV station 1+1, which aired "Servant of the People." The show starred Zelenskyy as a comedian turned president, eerily mirroring his own political journey.

While Zelenskyy has vehemently denied any obligations to Kolomoisky in the past, the oligarch's recent detainment has undoubtedly raised eyebrows.

Ukrainian
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