UKRAINE – Hungarian border agents conducted a routine search of Ukraine immigrants fleeing the country as Russia continues its invasion of the country.
Anastasia Kotvitska, model and wife of former MP Igor Kotvitsky, was allegedly trying to sneak close to $30M in cash across the border. She may now face criminal charges for failing to declare the large sum of cash in her attempt to flee Ukraine.
Kotvitsky, one of Ukraine’s wealthiest businessmen, is not only a former politician, but owns Nuclear Energy Systems of Ukraine as well as the majority of uranium deposits in the country.
He posted to social media just before closing his account. He claimed his wife was headed to Hungary with her mom as she prepared to give birth. She was also traveling with two Hungarian men. Investigators believe she may have been carrying the money for her husband in an attempt to avoid a capital flight curb.
Capital flight is when citizens move large sums of money from the country and place it elsewhere, reducing the amount of money in the banking system and decreasing direct investment back into the national economy.
As reported by Reuters, Czech Foreign Minister Jan Lipavsky discussed this potential activity back in February.
“(Ukraine’s) prime minister and the president mentioned that Ukraine is facing strong capital outflow, both private [business] and people withdrawing their savings, which is something that can quite rapidly threaten Ukraine’s economic stability,” he said.
Kotvitsky denied anything nefarious by either he or his wife. He said that the reports were false and that all of his money was resting safely in the bank.
“All my money is in Ukrainian banks, I did not take anything out,” he said.
Kotvitska has yet to respond to the claims that she was carrying $28M in US currency along with €1.3M.