The US has filed a civil forfeiture complaint in Florida, alleging that over $6 million earned from the sale of commercial real estate in Dallas, Texas are subject to forfeiture because of violations of federal money laundering rulings. The maintenance of the disputed real estate involved proceeds of the multi-billion-dollar embezzlement and fraud from PrivatBank in Ukraine.
This action is the fourth of its kind in relation to embezzlement and fraud from PrivatBank. The US had filed two other actions in August 2020. These complaints alleged that funds from the PrivatBank fraud were used to purchase commercial real estate in Texas and Kentucky. The US had filed a third similar suit in December 2020, involving a property in Ohio.
In all actions, the US has accused PrivatBank owners Ihor Kolomoisky and Gennadiy Boholiubov of embezzling and defrauding the bank of billions. During 2008-16, Kolomoisky and Boholiubov allegedly obtained fraudulent loans and lines of credit. They laundered part of the criminal proceeds using bank accounts in the name of several shell companies.
Two other associates of Kolomoisky and Boholiubov created a network of entities to further launder the illicit funds. They used the misappropriated funds to purchase hundreds of millions of dollars in real estate and businesses across the US, including the subjects of the 4 forfeiture complaints.
Source: US Department of Justice