Bogolyubov to appeal London court ruling in PrivatBank case

Businessman Gennadiy Bogolyubov plans to appeal the July 30 ruling by the High Court of London, which found him guilty of unlawfully siphoning off nearly $2 billion from PrivatBank prior to its nationalization. The announcement was made by Bogolyubov’s press service in a comment to LIGA.net.

"We believe the judge made a significant error in key findings concerning Mr. Bogolyubov’s alleged involvement in the fraud and the resulting losses to the bank," said George Maylin of Enyo Law, the businessman’s legal representative.

Bogolyubov has consistently denied any involvement in fraudulent activities or financial schemes related to the case.

• PrivatBank was nationalized in 2016, after which the Ukrainian government injected UAH 155 billion to stabilize the institution.
• In February 2023, Ukraine’s Supreme Court ruled that PrivatBank could not be returned to its former owners.
• According to the State Bureau of Investigation, Bogolyubov left Ukraine in June 2024 using someone else’s passport—a claim he denies. He was arrested in absentia in November 2024, and in February 2025, he was sanctioned by Ukraine’s National Security and Defense Council alongside fellow former shareholder Ihor Kolomoisky. Recent reports indicate that Bogolyubov is currently residing in Vienna.
• Kolomoisky, meanwhile, has been held in pre-trial detention since September 2023. He is suspected of embezzling UAH 5.8 billion by falsifying cash deposits at PrivatBank and is also facing charges including attempted contract murder.