The Shevchenkivsky District Court in Kyiv has ordered businessman Ihor Kolomoisky to be remanded in custody for two months in Dnipro with the possibility of posting bail of over UAH 500 million, according to a correspondent from Interfax-Ukraine in the courtroom.

He is also required to surrender all documents and refrain from contacting witnesses. Lawyers can appeal the decision within five days.

Earlier, it was reported that the Security Service of Ukraine had notified Kolomoisky of suspicion under two articles of the Ukrainian Criminal Code: Article 190 (fraud) and Article 209 (legalization (money laundering) of criminally obtained property).

Law enforcement agencies have determined that the businessman legalized over UAH 0.5 billion from 2013 to 2020 by transferring them abroad, using the infrastructure of banks under his control.