On May 1, the Security Service of Ukraine, jointly with the Office of the General Prosecutor, served oligarch Ihor Kolomoiskyi with yet another notice of suspicion. Law enforcement has linked him to a series of large-scale financial abuses and schemes in the banking sector.
Two years ago we covered the cases involving Kolomoiskyi at that time, but this new notice of suspicion is a good occasion to revisit where they stand.
The oligarch is currently a defendant in four criminal proceedings being investigated by various agencies — from NABU and the SSU to the ESBU. Below we review the substance of each case and how their status has shifted over the past two years.
The new notice of suspicion from the SSU and the PGO
On May 1, 2026, the SSU and the Prosecutor General's Office served Kolomoiskyi with a notice of suspicion in a case concerning the misappropriation of PrivatBank funds in 2014.
According to the investigation, Kolomoiskyi and associates allegedly misappropriated over UAH 100 million by withdrawing credit funds through controlled enterprises with no real business activity. The money was routed through a series of companies to disguise its origin, with part of it allegedly returning to the organizers under the cover of contract performance.
The charges are brought under Article 190(4) of the Criminal Code of Ukraine.
The PrivatBank case: UAH 9.2 billion
A separate PrivatBank case concerns events from January to March 2015.
According to the NABU, Kolomoiskyi and others allegedly embezzled UAH 9.2 billion of the bank's funds. The investigation holds that the funds were used to finance a controlled offshore company and to increase his stake in the bank's authorized capital, allowing the formal requirements of the National Bank of Ukraine's 2015–2017 financial recovery program to be met.
In July 2025, the pre-trial investigation was completed; the defense is currently reviewing the case materials, after which the case will be referred to court. Five former bank top managers also face charges in the case:
- Yaroslav Luhovyi, Director of the Interbank Dealing Department
- Oleksandr Dubilet, former Chairman of the Board of PrivatBank
- Liudmyla Shmalchenko, Deputy Chair of the Management Board
- Nadia Konopkina, Head of the Interbank Operations Department
- Tetiana Yakymenko, Deputy Head of the Correspondent Bank Accounts Department.
The charges are brought under Articles 191, 209, and 366 of the Criminal Code of Ukraine.
The HACC is also currently hearing a case concerning the embezzlement of UAH 8.4 billion from PrivatBank — Kolomoiskyi is not a defendant, but other former bank top managers are charged. The case was scheduled for trial on the merits in August 2025.
The ESBU notice of suspicion: UAH 5.8 billion through fictitious deposits
In September 2023, the Economic Security Bureau of Ukraine served Kolomoiskyi with a notice of suspicion in connection with organizing a scheme to misappropriate UAH 5.8 billion from PrivatBank in 2013–2014.
According to the investigation, he formed a group of bank employees who recorded fictitious "cash deposits" without any actual incoming funds. These amounts were then booked as genuine non-cash funds and used to finance controlled businesses, settle accounts, and move money abroad.
It was also in this proceeding that Kolomoiskyi's bail was set at a record amount — UAH 3.8 billion.
In September 2025, the ESBU referred the case to court. The Podilskyi District Court of Kyiv scheduled the preliminary hearing in October. The charges include Articles 191(5), 200(2), 209(3), and 366(2) of the Criminal Code of Ukraine.
The notice of suspicion concerning organization of a contract murder
Back in May 2024, the Prosecutor General's Office served Kolomoiskyi with a notice of suspicion for organizing an attempted contract murder.
According to the investigation, the events date back to 2003. The businessman is alleged to have ordered an attack on the director of a law firm in retaliation for her refusal to revoke a shareholders' meeting decision that conflicted with his commercial interests. The attack took place in Feodosia — the victim was savagely beaten and wounded, but survived.
The case has already been referred to court and is currently being heard by the Shevchenkivskyi District Court of Kyiv. In April 2026, the case was scheduled for trial on the merits. The charges are brought under Articles 27(4), 15(2), and 115(2)(11)(12) of the Criminal Code of Ukraine.
What's next?
Since our last review, the situation surrounding Kolomoiskyi's cases has shifted from the accumulation of suspicion notices to systematic court proceedings.
As of May 1, 2026, the oligarch is a defendant in four cases. The investigation into the misappropriation of UAH 9.2 billion from PrivatBank has already been completed. The cases concerning the fictitious bank deposits and the attempted murder are already in court.
A separate development is today's new notice of suspicion concerning the misappropriation of UAH 100 million from PrivatBank in 2014. In parallel, the trial of the bank's top managers in the case of UAH 8.4 billion in embezzlement is already underway.
As we can see, the cases are actively moving into the trial stage — we will continue tracking developments and await the outcomes.
This material is prepared by the Transparency International Ukraine team
