You're reading: Lazarenko’s money divided by US court among Antigua bank and US

A court in Washington DC has approved the agreement under which a bank in the island state of Antigua receives a part of funds belonged to former Ukrainian prime minister Pavlo Lazarenko and another part of the funds will go to the US government, Voice of America has reported. 

Voice of America reported on Wednesday that there is a large likelihood that almost $75 million will be sent to the accounts of the US government.

Voice of America said that along with a court hearing against Lazarenko in California, the process of confiscation of his property was started in Washington DC. The US justice system coped to identify about $250 million withdrawn from Ukraine and put on Lazarenko’s bank accounts in the state islands of Antigua and Guernsey, Lithuania, Lichtenstein and Switzerland.

Voice of America said that a lot of nations, institutions and people are lining up to claim the money, including Lazarenko and Russia’s Gazprom, as well as Eurofed bank, which was founded by the former prime minister of Antigua and being managed by the liquidator appointed by a court. The bank signed an amicable arrangement with the US government and agreed to lift its claims for the most of part of Lazarenko’s funds. The judge approved this agreement.

“Around 23% [of Lazarenko funds] go to Eurofed bank to pay to lawyers, settle court expenses and distribute the money between the depositors of the bank who were not affiliated with Lazarenko. Eurofed Bank lifts its claims on the rest of the money. Around $75 million will be sent to the U.S. government,” reads the report, citing AGG law firm partner Gene M. Burd.