By Joe Hoft
Published October 1, 2019
The Biden (and now Kerry) scandal in the Ukraine is much more than about the money paid to Hunter Biden for being a Board member at the largest gas producer in the Ukraine, Burisma Holdings. The real scandal involves billions in funds from the IMF and US in aid that has gone missing.
Burisma (Ukraine’s largest oil and gas provider) has been the subject of many recent news articles because of its scandalous close-knit ties with President Obama’s Vice President Biden and Secretary of State Kerry. (Yes, Kerry is involved here too)
A controlling shareholder of Burisma is believed to be held by an entity called Privat Group:
The Privat Group, or PrivatBank Group (Ukrainian: Група “Приват”, Grupa “Privat”) is a global business group, based in Ukraine. Privat Group controls thousands of companies of virtually every industry in Ukraine, the European Union, Georgia, Ghana, Russia, the United States and other countries. Steel, oil & gas, chemical and energy are sectors of the group’s prime influence and expertise. None of the group’s capital is publicly traded on any stock exchange.
Privat Group is controlled by Ukraine’s largest commercial bank, PrivatBank, whose owner was Igor Kolomoisky. PrivatBank was later nationalized by the Ukraine in December 2016, taking 100% control of the PrivatBank entity, a month after the 2016 US election:
According to reports:
Ihor Valeriyovych Kolomoyskyi is a Ukrainian Jewish billionaire business oligarch and the former Governor of Dnipropetrovsk Oblast. Kolomoyskyi is rated as the second or third richest person in Ukraine since 2006. and 377th richest person in the world according to the Forbes magazine list of billionaires.” “The transliteration of Ihor Kolomoyskyi’s name into English has numerous variants including Igor, or Ihor for his first name, and Kolomoyskyi, Kolomoysky, Kolomoisky, Kolomoiskiy, or Kolomoyskiy for his surname.” “Kolomoyskyi is rated as the second or third richest person in Ukraine (after Rinat Akhmetov and/or Viktor Pinchuk) since 2006.” [source]
Before the Orange Revolution, Privat Group had been widely regarded as relatively uninvolved in politics, but loyal to the Leonid Kuchma regime. After the government change, the group’s owners, according to media, became close allies of Yulia Tymoshenko (although she publicly denies this). Analysts agree that some of Tymoshenko’s decisions as the Prime Minister of Ukraine supported Privat side in conflicts. Some sources state that Privat Group provided significant financial support for Viktor Yuschenko during his presidential campaign and subsequent Orange Revolution.” [source]
As noted in prior posts, Kolomoisky purchased a private military consisting of mainly military and police forces who were also employed by the Ukrainian Government. Kolomoisky is credited with stopping the forward progression of Russian separatists via the use of his private military.
The international financial agency had rushed the money to Ukraine in April, in response to what IMF managing director Christine Lagarde called a “major crisis.” She went on to hail the government’s “unprecedented resolve” in developing a “bold economic program to secure macroeconomic and financial stability.” Over the next five months the international agency poured the equivalent of $4.51 billion ($2.97 billion in “Special Drawing Rights”—the IMF’s own currency) into the National Bank of Ukraine— the country’s central bank. Much of this money was urgently needed to prop up the local commercial banks. In theory, the IMF appeared to require direct supervision of how the Ukrainian banks used the aid. In fact, it appears the banks got to select their own auditors.” [source]
Kolomoisky’s bank, PrivatBank, is later revealed to be a recipient of billions of dollars of IMF funds.
Kolomoisky is believed to have looted those funds:
At one point in time, Kolomoisky had been placed on a US Government Visa ban list due to his questionable business practices; however, shortly after Archer Devon and Hunter Biden joined the board of Burisma, that ban was mysteriously lifted, and there has been no investigation into these missing funds.
Where are the billions of dollars that went missing in the Ukraine? What do Obama, Biden and Kerry and their children know about where the money is and are they connected?
Hat tip D. Manny