During one decade – 2006 to 2016 — Ihor Kolomoisky and Gennady Bogolyubov, the former co-owners, of PrivatBank, laundered $470 billion – about four times the GDP of Ukraine – through PrivatBank Cyprus to the United States

During one decade – 2006 to 2016 — Ihor Kolomoisky and Gennady Bogolyubov, the former co-owners, of PrivatBank, laundered $470 billion – about four times the GDP of Ukraine – through PrivatBank Cyprus to the United States, according to one analysis of the 104-page civil case filed two weeks ago in US court by the new management of PrivatBank against the former owners. “If this is true, this is the biggest case of money laundering in history, and it has been perpetrated by one single group,” Anders Aslund writes in “How Kolomoisky Does Business in the United States” an article posted on the Atlantic Council Ukraine Alert Blog. With the money invested in US real estate and ferroalloy companies, this massive stripping of assets from Ukraine would help explain the nation’s chronic capital shortage in recent years.