Swiss freeze CHF170 million in Ukrainian funds

Yanukovych was forced out of office in February AFP

Switzerland has blocked at least CHF170 million ($193.3 million) in assets belonging to former Ukrainian president Viktor Yanukovych and about 30 of his associates as part of money laundering probes.

The Federal Prosecutor’s Office confirmed on Tuesday the amount of the confiscated funds held in Swiss bank accounts. Two of Yanukovych’s sons as well as former Ukrainian government ministers and their families have been targeted by the measures.

The office in March opened five investigations against people suspected of money laundering. A separate probe against Yanukovych and his entourage is underway in Geneva.

Officials said the office did not act upon a specific request by the interim government in Kiev, but because of a reasonable suspicion of money laundering.

The Ukrainian government has said loans worth CHF32 billion had disappeared from state coffers under Yanukovych regime. Part of it has allegedly been sent out of the country during the former president’s three-year rule. But it is not clear how much of this money is illegal.