A Ukrainian court ordered tycoon Ihor Kolomoisky to be held in custody for two months on suspicion of fraud and money laundering on Saturday, a striking move against one of the country's most powerful businessmen.

Axar.az reports the detention of Kolomoisky, who is under U.S. sanctions and is a one-time supporter of President Volodymyr Zelensky whose election he backed in 2019, comes as Kyiv is trying to signal progress during a wartime crackdown on corruption.

Defence lawyers said Kolomoisky would appeal the ruling, questioning its legality, but that he would not post bail of almost $14 million in order to secure his release, broadcaster Radio Liberty reported.

After a hearing at a district court in Kyiv late on Saturday, Kolomoisky, one of Ukraine's richest men, was shown being led away in a blue tracksuit jacket in television footage. He could not be reached for comment.