The Security Service of Ukraine (SBU) confirmed Saturday the arrest of billionaire Ihor Kolomoisky, who supported Ukrainian President Volodymyr Zelensky’s 2019 presidential campaign connection with a fraud investigation.

Ukraine flag. Ukrainian flag on black storm cloud sky. stormy weather. (Photo: IStock)

According to News Week, Kolomoisky, the founder of PrivatBank, Ukraine’s largest financial enterprise, was arrested on suspicion of fraud and money laundering, according to the SBU in connection with a fraud investigation. According to the Ukrainian online publication The Kyiv Independent, he has been ordered detained until October 31, with bail set at Hr 509 million ($14 million) in connection with a fraud investigation.

“It was established that during the years 2013-2020, Ihor Kolomoisky legalized more than half a billion UAH by taking them abroad, while using the infrastructure of controlled banking institutions,” the agency said in a statement in connection with a fraud investigation.

In connection with a fraud investigation, the arrest comes as Ukraine continues to clean up government corruption, a vital prerequisite for the country’s accession to NATO and the European Union (EU). NATO membership has become a primary ambition for Zelensky, who also ran as an anti-corruption candidate in the midst of Russia’s invasion, which began in February 2022 in connection with a fraud investigation.

READ ALSO: What Are The Most Dangerous Cities Now In Colorado?

According to a Transparency International report published in 2021, Ukraine is the second most corrupt country in Europe after Russia, ranking 122nd out of 180 countries in connection with a fraud investigation.

According to CNN, the prosecution against Kolomoisky is the latest in Ukraine’s anti-corruption campaign in the aftermath of Russia’s invasion, which has revealed fancy watches, automobiles, and thousands of dollars in cash in connection with a fraud investigation.

“Every criminal who has the audacity to harm Ukraine, especially in times of war, must clearly understand that we will handcuff his hands,” warned Vasyl Maliuk, the SBU’s head, in a February statement in connection with a fraud investigation.

Zelensky sacked a wave of senior Ukrainian officials earlier this year over a corruption scandal involving the procurement of war equipment. It was the most significant change in his government since Russia’s invasion began in connection with a fraud investigation.

READ ALSO: Oakland City Council Takes Action Amid Insurer Exodus From Fire-Prone California