Ukrainian Oligarch Kolomoyskiy Arrested In Fraud, Money-Laundering Case

Influential Ukrainian businessman Ihor Kolomoyskiy arrived at the Shevchenkivskyi District Court in Kyiv on September 2 as a suspect in a fraud and money-laundering case. The judge ordered the arrest of the billionaire and said he should be kept in pretrial detention for 60 days. Defense lawyers said they would appeal the verdict and wouldn't pay the bail, which was set at nearly $14 million. Kolomoyskiy, one of Ukraine's richest men, made his fortune in the ore trade and in the banking, energy, and media sectors.