Ukraine Cracks Down on Oligarch Kolomoisky, Once a Backer of President Zelensky

Ukrainian authorities have opened multiple criminal cases against oligarch Ihor Kolomoisky, once one of Ukraine's richest men.

Kolomoisky is accused of embezzling billions from PrivatBank before it was nationalized in 2016. He denies wrongdoing.

Kolomoisky was a backer of President Volodymyr Zelensky but has fallen from grace as Ukraine cracks down on oligarchs.

Kolomoisky is currently jailed in Kyiv pending investigation and faces up to 12 years in prison if convicted.

President Zelensky said there will be no more "business as usual" for those who plundered Ukraine and evaded justice.