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The Biden administration sanctioned a powerful Ukrainian oligarch who has invested hundreds of millions of dollars in U.S. real estate on Friday.
Ihor Kolomoyskyy, a former Ukrainian governor and billionaire oligarch, once owned PrivatBank, among the largest banks in Ukraine, and Ukrainian authorities along with U.S. investigators have accused him and his associates of embezzling and defrauding the bank of billions of dollars for nearly a decade before the scheme was unearthed and the bank was nationalized in 2016.
The State Department says his time as a top politician in Ukraine was marked by significant corruption as the Justice Department investigates the real estate empire he built in the United States, allegedly through theft and money laundering.