When Ukraine’s PrivatBank filed a lawsuit in the United States against its former owner Ihor Kolomoisky one year ago, it claimed the tycoon had used a slew of anonymous shell companies registered in the U.S. state of Delaware to carry out what it called a “brazen” heist.
Mr. Kolomoisky and his partner Hennadiy Boholyubov used Delaware-based limited liability companies (LLCs) – which are popular for their lack of beneficial ownership disclosure requirements – to acquire U.S. businesses and properties worth hundreds of millions of dollars with stolen funds, the Kyiv-based bank claimed.
The men “have gone through great lengths to conceal their ownership and control over U.S. assets,” the lawsuit filed in Delaware’s Chancery Court on May 21, 2019, said.