Court ruling on Kurchenko's arrest takes effect, - PGO

Infamous Ukrainian oligarch Serhii Kurchenko is accused of establishing a criminal organization involved in a number of grave offenses, including asset-grabbing, money laundering and the launch of fake business entities to cover up illegal activities.

Сensor.NET reports citing the PGO press service.

"The criminal organization in which Serhii Kurchenko took active part has caused damage exceeding 7 billion hryvnia ($ 246.947 million)," the message notes.

According to the PGO, Kurchenko is indicted on a number of charges and faces 7 to 12 years in prison under the gravest one.

He has been on the international wanted list since March 2014. Over the period, several attempts have been made by the lawyers to appeal the ruling on his arrest.

Finally, on Jan. 18, 2017, Kyiv's Appeals Court upheld the first instance court decision on Kurchenko's arrest as legitimate and unappealable, a step that secures international activities to trace the fugitive oligarch.