The court froze $ 820 million of the richest man in Ukraine

Rinat Akhmetov. Photo: scm.com.ua

The District Court of Nicosia decided to freeze the assets of businessman Rinat Akhmetov in the amount of $820 million in the Ukrtelecom case. This is reported by RBC with reference to Financial Times.

The court took the relevant decision 27 December at the suit of the company Raga Establishment, which belongs to the former chairman of the board of Rodovid Bank Denis Gorbunenko. A copy of the decision was provided to the publication Raga Establishment the plaintiff. The court’s decision can be appealed before January 8.

В Raga claim that they sold Ukrtelecom to Akhmetov for $860 million in 2013, he paid $100 million, and the company did not receive any more funds from him.

Frozen assets probably include an apartment in London, Knightsbridge. At the time of purchase, the apartment was the most expensive private residence in the UK. The case also potentially affects the interests of another Ukrainian oligarch, Dmitry Firtash, who is now in exile in Austria, awaiting a possible extradition to the US on corruption charges, which he called fabricated, the publication said.

It should be noted that in the political circles of Ukraine, Denis Gorbunenko is considered to be a person close to Dmitry Firtash. In particular, Gorbunenko attended court hearings on the issue of issuing Firtash to the United States in Vienna.

Akhmetov, according to magazine estimates Forbes last year, has a net worth of $4,6 billion and has assets that span coal, steel, energy and telecommunications, as well as UEFA Champions League football club Shakhtar Donetsk.

The Cyprus decision means that three of Ukraine's five richest oligarchs now have frozen assets. Last month, London's High Court ordered the freezing of more than $2,5 billion in assets belonging to Igor Kolomoisky and Gennady Bogolyubov. The latter are associated with the collapse of Ukraine’s largest commercial lender, PrivatBank.

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