AVELLUM represents client in a cross-border criminal investigation

AVELLUM acted as lead counsel to a Ukrainian private client in a complex cross-border investigation into alleged money laundering. The Andorran court has issued an order enabling the release of the client’s assets, marking a decisive milestone in multi-jurisdictional proceedings across Ukraine, Switzerland and Andorra that have lasted almost five years.

The investigation centred on allegations of money laundering connected to alleged embezzlement from a major Ukrainian bank. Despite having no connection to the alleged money laundering, the client was involuntarily drawn into the case and faced bank account freezes in Andorra and Switzerland.

AVELLUM developed and coordinated the international legal strategy, working alongside leading local counsel in Andorra and Switzerland.

AVELLUM conducted a thorough historical and financial analysis of the inflows to the frozen accounts to demonstrate the lawful origin of the funds and refute any suspicion linking the client’s bank accounts to money laundering.

Following continuous and proactive engagement with the judiciary in Andorra, the judge signed an order enabling the release of the client’s assets.

The Andorran decision follows an earlier strategic success in Switzerland, where the team secured the partial release of the client’s frozen bank accounts even before the Andorran court ruled.

The case further strengthens AVELLUM’s track record in white-collar crime matters and in managing complex parallel proceedings across multiple jurisdictions.

Partner Andriy Fortunenko led the AVELLUM team with significant support from managing associate Oleg Shkondin and associates Oleksandr Stadnyk and Inna Hontaruk.