Exiled Ukrainian oligarch Oleg Bakhmatyuk and a US business ally reached a confidential settlement resolving a billion-dollar civil racketeering case over an alleged plot to loot one of Europe’s largest egg producers and funnel the proceeds through dummy companies.
The two sides said in a joint federal court filing Wednesday that the creditors leading the litigation were dropping it with prejudice after reaching an agreement to resolve their claims. The lawsuit said Bakhmatyuk plundered UkrLandFarming Plc and a subsidiary, Avangardco IPL, through a complex scheme to restructure their debts.
Bakhmatyuk—speaking from Vienna through a translator Friday—told Bloomberg Law he ...
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