REPORTED, FOR A TOTAL OF MORE THAN 2800. MONDAY WILL MARK TWO WEEKS SINCE INDIANA’S STATEWIDE MASK MANDATE WENT INTO EFFECT. THE FEDERAL GOVERNMENT WANTS THE OWNERS OF ONE OF LOUISVILLE’S LARGEST BUILDINGS TO GIVE IT UP, CLAIMING IT WAS BOUGHT AS PART OF AN INTERNATIONAL MONEY-LAUNDERING SCHEME. PROSECUTORS ALLEGE PNC PLAZA ON JEFFERSON STREET WAS PURCHASED IN 2011 FOR MILLIONS OF DOLLARS ULTIMATELY STOLEN FROM A UKRAINIAN BANK BY THAT BANK’S OWNERS. COURT DOCUMENTS CLAIM THEY FORGED LOAN APPLICATIONS AND OTHER DOCUMENTS WITH NO INTENT ON REPAYING IT. THEY ARE ACCUSED OF USING SIMILAR SCHEMES TO BUY OTHER PROPERTIES IN THE UNITED STATES, INCLUDING STEEL PLANTS IN KENTUCKY. PROSECUTORS WANT PNC PLAZA
Downtown PNC Plaza caught in alleged Ukrainian money laundering scheme, Feds claim
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Updated: 6:18 PM EDT Aug 7, 2020
The U.S. Department of Justice looks to seize the former PNC Plaza in Downtown Louisville for its alleged involvement in a Ukrainian money laundering scheme, according to a civil suit filed in U.S. District Court for the Southern District of Florida, Louisville Business First reports.The federal government alleged Thursday that Ihor Kolomoisky and Gennadiy Boholiubov, owners of PrivatBank, embezzled and defrauded billions of dollars from the Ukrainian bank between 2008 and 2016 and used fraudulent loans and lines of credit to purchase millions of dollars of real estate and businesses, including the office tower at 500 W. Jefferson St., now known as 500 West Jefferson, in Downtown Louisville.According to the lawsuit, the misappropriated funds were also used to purchase commercial property in Dallas in an office park known as the former CompuCom Headquarters. Both properties are worth a combined $70 million.PNC no longer has a presence at the building at 500 W. Jefferson St., as its employees moved to PNC Tower at Fifth and Main streets several years ago.The suit called the scheme “complex,” as the fraudulent loans obtained by PrivatBank were approved by a “special” credit committee at the bank despite misrepresentations in the applications. The loan proceeds were then divided, combined and transferred, generally using accounts at PrivatBank’s Cyprus branch, before being transferred to the U.S., among other locations around the world, the suit said.Read more about the case at Louisville Business First.
LOUISVILLE, Ky. (Sarah Shadburne) — The U.S. Department of Justice looks to seize the former PNC Plaza in Downtown Louisville for its alleged involvement in a Ukrainian money laundering scheme, according to a civil suit filed in U.S. District Court for the Southern District of Florida, Louisville Business First reports.
The federal government alleged Thursday that Ihor Kolomoisky and Gennadiy Boholiubov, owners of PrivatBank, embezzled and defrauded billions of dollars from the Ukrainian bank between 2008 and 2016 and used fraudulent loans and lines of credit to purchase millions of dollars of real estate and businesses, including the office tower at 500 W. Jefferson St., now known as 500 West Jefferson, in Downtown Louisville.
According to the lawsuit, the misappropriated funds were also used to purchase commercial property in Dallas in an office park known as the former CompuCom Headquarters. Both properties are worth a combined $70 million.
PNC no longer has a presence at the building at 500 W. Jefferson St., as its employees moved to PNC Tower at Fifth and Main streets several years ago.
The suit called the scheme “complex,” as the fraudulent loans obtained by PrivatBank were approved by a “special” credit committee at the bank despite misrepresentations in the applications. The loan proceeds were then divided, combined and transferred, generally using accounts at PrivatBank’s Cyprus branch, before being transferred to the U.S., among other locations around the world, the suit said.
Read more about the case at Louisville Business First.
