Yanukovych’s Lawyers Want to Win $1.5 bln Payout against Ukraine

The Donetsk Court of Appeals will consider the lawyers’ appeal against the special confiscation of $1.5 billion of the former president Viktor Yanukovych on 27 October. General Prosecutor Irina Venediktova announced this.

“On 27 October 2020, prosecutors of the General Prosecutor Office will take part in the processing of a non-resident companies’ lawyer’s complaint against the Kramatorsk City Court decision as of 19 May 2017 in the Donetsk Court of Appeal. This decision applied a special confiscation of securities accounts and cash on accounts in banking institutions of offshore companies. It is almost 1,5 billion dollars,” the official noted.

To recap, on 28 January 2015, the State Financial Monitoring Service blocked $1.42 bln on the non-resident companies accounts associated with Viktor Yanukovych, his relatives, officials of the former government and related persons.

On 28 April 2017, the Kramatorsk court decision to confiscate these funds, as well as domestic government bonds of Ukraine, came into force.

Seven Cypriot companies, owners of domestic government bonds, have appealed the court’s decision to confiscate $ 1.5 billion of Yanukovych’s circle.

Natalia Tolub