A woman walks by the PrivatBank’s branch in downtown Kyiv on June 9, 2020.
The New York-based branch of German Deutsche Bank Trust Company Americas (DBTCA), had a significant relationship with PrivatBank during the time when the bank was owned by Ukrainian oligarchs who were allegedly embezzling and laundering depositors’ money into the U.S., according to Forensic News media outlet.
Igor Kolomoisky and Gennadiy Boholyubov, the former major stakeholders of PrivatBank, allegedly stole $5.5 billion and parked the vast sum overseas. According to now state-owned PrivatBank, $746 million of stolen money ended up in the U.S. In August, the Justice Department filed two civil forfeiture complaints that could allow it to seize $70 million worth of real estate.
