The court refused to seize 196.9 million hryvnias linked to Novynskyi

The court refused to seize 196.9 million hryvnias linked to Novynskyi

The Pechersk District Court of Kyiv denied the State Bureau of Investigation’s petition to seize 196.9 million hryvnias.

In October 2024, "PrivatBank" halted a financial transaction — Smart Investments Cyprus Ltd, whose beneficiary is the sanctioned former MP Vadym Novynskyi, was transferring 196.9 million hryvnias to the account of a private executor. The payment was justified as the enforcement of a decision by the Commercial Court of the Zaporizhzhya region in a lawsuit filed by LLC "Cerera-I".

In 2022, a month after personal sanctions were applied to Novynskyi in Ukraine, the Zaporizhstal Metallurgical Plant allegedly signed 6 loan agreements amounting to 1.98 billion hryvnias with LLC "Smart-Leasing", which failed to repay the debt. Subsequently, through a complex scheme, the debt was supposedly reassigned.

The company "Cerera-I" today claims ownership of the funds and denies any connection to Novynskyi.

However, regulatory and law enforcement agencies suspect that the sanctioned former MP is attempting to legalize his funds through fictitious loan agreements and assignment of claims.

In November 2024, the Pechersk District Court of Kyiv seized 196.9 million hryvnias in another criminal proceeding related to Novynskyi. But on July 1, 2025, the Shevchenkivskyi District Court of the capital lifted the seizure, justifying the decision by stating that for more than six months, no individual had been served a notice of suspicion in that proceeding. The court also found no evidence that the money was obtained through criminal means. The continued seizure was deemed unfeasible.

An investigator from the State Bureau of Investigation filed a petition to seize the funds in another criminal proceeding, in which Novynskyi was officially charged with treason in January 2025.

However, the judge believes that the investigator did not present new circumstances to justify a repeat petition to seize the same asset. As a result of the petition review, the court did not find sufficient and acceptable evidence that these funds are linked to the investigation of Novynskyi’s treason.