U.S. Allows Ukrainian Tycoon To Sell Texas Property It Froze

The United States is permitting a company owned by a Ukrainian tycoon to sell a Texas building the government froze as part of a civil money-laundering case so that it can pay down the property’s back taxes and other debts.
The Justice Department last year accused billionaire Ihor Kolomoyskiy along with his partner of embezzling money from their Kyiv-based Privatbank and then laundering the proceeds through shell companies to purchase U.S. commercial buildings worth hundreds of millions of dollars.

The Justice Department sued to seize three of the buildings, including one each in Ohio, Kentucky, and Texas. Kolomoyskiy denies the accusations and has filed for arbitration, saying the United States has no basis to expropriate his assets.

In a September 22 filing, U.S. District Judge Marcia Cooke granted a Justice Department request to allow Kolomoyskiy’s firm to sell a Dallas building that was once home to Electronic Data Systems, the company founded by former presidential candidate Ross Perot.
Centurion American, a North Texas-based real estate firm, has agreed to buy the property for $23.3 million, according to the court filing. The sale is expected to be completed on September 27, court filings show. After debts and taxes are paid, the remaining proceeds from the sale will be held in an interest-bearing escrow account maintained by the United States pending the outcome of the civil case. The property owed more than $425,000 in property taxes, late penalties, and community association fees as of September 16, court documents show. “This Court finds that an interlocutory sale of the Property is necessary and appropriate to preserve the value of the Property before the conclusion of the pending forfeiture proceedings,” Cooke said in her ruling. The immediate sale will mitigate the risk of market fluctuations as well as the cost of maintaining the property in good condition. The Texas property is currently unoccupied and thus unable to generate revenue to cover its maintenance costs, taxes, and association fees. Kolomoyskiy is one of the most powerful tycoons in Ukraine with assets ranging from oil and gas to metals and media. His television stations backed the candidacy of President Volodymyr Zelenskiy during the 2019 campaign and he is reported to have close ties to his administration.

Radio Free Europe

RFE/RL journalists report the news in 22 countries where a free press is banned by the government or not fully established, including Iran, Afghanistan, Pakistan, and Russia.

https://www.rferl.org/

Related news
Made in Bury: Elephant in the Room - Made in Britain.

Made in Bury: Elephant in the Room - Made in Britain.

A group of Bury and Rochdale residents who have lived through experiences such as prison, addiction, mental health problems and homelessness came together and called themselves the Elephants Trail. They want to be voice for others, hold local powe...

Tucker sounds off on Pennsylvania governor over bill dictating sex dialogue.

Tucker sounds off on Pennsylvania governor over bill dictating sex dialogue.

'Tucker Carlson Tonight' host reacts to Governor Tom Wolf's interest in American college students' sex lives. #FoxNews #Tucker #FoxNewsVoices Subscribe to Fox News! Watch more Fox News Video: Watch Fox News Channel Live: FOX News Channel (FNC) is ...

3 1837

Senators Push For Charges Against Brazil President In Handling Of Covid.

Senators Push For Charges Against Brazil President In Handling Of Covid.

Brazilian senators introduced a report that investigates President Jair Bolsonaro's handling of the coronavirus pandemic. NBC News' Guad Venegas reports. » Subscribe to NBC News: » Watch more NBC video: NBC News Digital is a collection of innovati...

UK COVID cases keep rising amid sluggish vaccination drive - DW News.

UK COVID cases keep rising amid sluggish vaccination drive - DW News.

UK hospitals are on the brink amid warnings of 100,000 cases a day The NHS said "things are only going to get worse" and that "the health service is right at the edge." Despite the gloomy outlook, Health Minister Sajid Javid has resisted calls for...

Flooding in London & South East after 45mph Storm Aurore drops 2inches rain in extreme UK weather.

Flooding in London & South East after 45mph Storm Aurore drops 2inches rain in extreme UK weather.

HEAVY downpours have flooded London and the South East today as SNOW hit the north. The capital was soaked overnight as Storm Aurore blasted Britain with 45mph winds and dropped two inches of rain. Snow covered the A939 in the Speyside region of S...

News Anchors John King, Neil Cavuto Speak Out In Support Of Covid Vaccine.

News Anchors John King, Neil Cavuto Speak Out In Support Of Covid Vaccine.

After testing positive for Covid-19 Fox News' Neil Cavuto said in a statement that if he wasn't vaccinated "this would be a far more dire situation," and while on air CNN's John King disclosed his battle with multiple sclerosis and praised his net...