Kolomoiskyi facing up to 15 years in prison and confiscation of all property

Businessman Ihor Kolomoiskyi faces up to 15 years in prison and confiscating all property.

This follows from a sanction of articles of the Penal Code that incriminate businessmen, the Ukrainian News agency reports.

Kolomoiskyi is suspected of committing crimes under Section 3 of Article 209 of the Penal Code (Legalization, laundering of funds obtained illegally, committed by an organized group, or in a particularly large amount).

This crime in Ukraine is punishable by imprisonment for a term of eight to 15 years and confiscation of property.

Also, the businessman is suspected of committing fraud, committed on a particularly large scale or by an organized group (Section 4 of Article 190 of the Penal Code).

This crime is punishable by imprisonment from five to 12 years with confiscation of property.

As the Ukrainian News agency earlier reported, the Shevchenkivskyi District Court of Kyiv arrested businessman Ihor Kolomoiskyi and set bail in the amount of UAH 509 million.

Kolomoiskyi is suspected of fraud and legalization, laundering money obtained through criminal means.

Kolomoiskyi was detained on Saturday morning and informed about the suspicion.

Detectives, together with the Security Service of Ukraine (SSU) and under the procedural guidance of the Prosecutor General's Office, have evidence that in 2013-2020, Kolomoiskyi legalized more than half a billion hryvnias by taking them abroad, using the infrastructure of controlled banking institutions.

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