Ukrainian Oligarch Sued For $27M In Investment Fraud Suit
Law360, London (October 25, 2019, 6:09 PM BST) -- A Ukrainian oligarch has been accused by a business partner of orchestrating a fraudulent investment in a failed land development project that cheated him out of $10.9 million.
Monaco resident and Ukrainian tycoon Vadim Shulman alleged in High Court documents recently made publicly available that Yuriy Ivanyushchenko, a billionaire with supposed ties to the country’s former president, pocketed half of his $21.8 million investment in a building development in Odessa, Ukraine, that never took place.
Half of the initial investment made as a loan to Ivanyushchenko has been repaid. However, Shulman asserted that he is owed damages of $27 million including...
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