Court seizes oligarch Novinsky's 'hidden' assets worth over UAH 10.5B

Court seizes oligarch Novinsky's 'hidden' assets worth over UAH 10.5B

More than UAH 10.5 billion worth of new assets of pro-Russian oligarch Vadim Novinsky, who is involved in aiding the aggressor country, have been seized according to materials from Ukraine's SBU State Security Service.

The SBU reported this on Telegram, according to Ukrinform.

The list of blocked assets includes 230 real estate objects that Novinsky owns through an offshore trust fund.

The seized property also includes an elite hotel complex in the center of Kyiv, the Ochakiv sea trade port, premises of an agricultural holding and shopping centers in various regions of Ukraine.

It was established that in order to circumvent sanctions imposed by Ukraine's National Security and Defense Council, Novinsky re-registered his own assets to several controlled foreign citizens in offshore jurisdictions.

He engaged affiliated private notaries and state registrars to implement the scheme.

However, employees of the Ukrainian special service exposed and blocked the criminal scheme.

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