Home / World / Latvian court upholds confiscation of $26 million of Ukrainian oligarch Ivanyushchenko

Latvian court upholds confiscation of $26 million of Ukrainian oligarch Ivanyushchenko

The Latvian Court of Appeal upheld the first-instance court's decision regarding the special confiscation of $26 million owned by the Ukrainian oligarch Yury Ivanyuschenko.
Latvian court upholds confiscation of $26 million of Ukrainian oligarch Ivanyushchenko

The Latvian Court of Appeal upheld the first-instance court’s decision regarding the special confiscation of $26 million owned by Yury Ivanyuschenko, the companion of the fugitive president of Ukraine Viktor Yanukovych, Joinfo.com reports with reference to Ukrainska Pravda.

In addition, the Ukraine’s Prosecutor General Office denied the claim of the Center for Combating Corruption that Ukraine has lost Ivanyuschenko’s $5.4 billion due to uplifted European Union sanctions, according to the information posted on Facebook by Deputy Prosecutor General Yevgen Yenin.

According to him, on March 7, the Latvian Court of Appeal upheld the first instance court’s decision regarding the special confiscation of $26 million owned by Ivanyuschenko. His lawyers could not prove the legality of these funds. The decision is final and can not be appealed.

“By the way, the Ukrainian investigation this time was on constant contact with the Latvian competent structures and contributed to the confiscation of this money in Latvia. Ivanyuschenko has definitively lost the opportunity to return this money, but Ukraine has a chance to see this money as soon as an appropriate verdict against Ivanyuschenko in Ukraine enters into force,” Yenin wrote.

In addition, Yenin also wrote:

“The Prosecutor General’s Office will be grateful to everyone who owns and is willing to share detailed information on the mythical $5.4 billion of Ivanyushchenko in foreign jurisdictions allegedly lost to our state after the recent uplifting of EU sanctions,” he wrote.