Ukraine Bank Sues Oligarchs In Chancery Over Shell Firms
Law360 (May 22, 2019, 4:06 PM EDT) -- Ukraine's PrivatBank sued a pair of oligarchs and their investment companies in Delaware Chancery Court late Tuesday, accusing the two of siphoning away billions and laundering some of it through Delaware-chartered shell companies that bought up factories and commercial real estate around the United States.
The bank, which required a $5.5 billion government infusion after it was nationalized in 2016, targeted Delaware business entities that played a central role in much of the alleged fraud by its founders, Igor Valeryevich Kolomoisky and Gennadiy Borisovich Bogolyubov. Both billionaires were listed among the world's richest people by Forbes Magazine in March.
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