30.03.2025 Cybercrimes Money laundering

How charitable foundations make money from the war in Ukraine. Aid to the Ukrainian Armed Forces has gone into the pockets of businessmen and officials

Олег Крот и Юрий Лазебников с Techiia в Кропивницком оборудовали операционную системой освещения | РБК-Україна

The names of Oleh Krot and Yuriy Lazebnikov, the founders of TECHIIA Holding, are often mentioned in the media amidst large statements about their financial support for the Ukrainian army. Thus, at the beginning of the invasion, a number of media outlets published articles about $60 million spent by the men allegedly for the needs of the Ukrainian army. But is there any evidence of these expenses and why do many aspects of this story look suspicious?

Millions of dollars for the army: truth or PR?

In addition to the success of the TECHIIA holding, which includes such well-known projects as the WePlay esports tournament, Oleg Krot and Yuriy Lazebnikov became known for their “charitable” activities. They claimed to have spent $60 million on purchases for the Ukrainian Armed Forces since the beginning of the war: ammunition, optics, drones, and communications. But where are the documents and reports confirming these expenditures?

The Techiia Foundation, which entrepreneurs claim is responsible for procurement, does not publish detailed reports on its website. There are only a few posts on the Facebook page, which talks about the transfer of aid to the military without specifying the beneficiaries, estimates and amounts spent.

The NGO Techiia Foundation itself claims to have spent more than UAH 2 billion. At the same time, the founders of TECHIIA say that most of the funds for the aid were provided by them and the companies that are part of the holding. However, even minor reporting on expenditures has not been made public – neither infographics nor reports on purchased goods.

According to Forbes, the amount of money raised by the Foundation is comparable to other major charitable organizations, but the level of transparency of its activities remains low.

When journalists inquire about their expenses, companies associated with Krot and Lazebnikov give rather vague answers. Holding executives say that they purchased “goods that the Armed Forces needed to protect our country,” but even graphic reports do not show where the money went.

Ties to Russian business

Another issue that requires attention is Krot’s and Lazebnikov’s ties to Russian businessmen. TECHIIA co-founder Yuriy Lazebnikov, according to the documents, was a director of the Russian company ME-Estate until 2020. This company was associated with the Russian betting service 1XBET, which planned to operate in Ukraine through the legal entity Your Betting Company LLC.

Krot lobbied for 1XBET, promising them a “green corridor” for $40 million. Thus, the Russian business remained operating in Ukraine during the war. Millions of dollars were circulated within the framework of dangerous schemes to transfer funds and support the interests of gambling organizations without proper control.

The main activity of ME-Estate is real estate transactions, and its owner is a Japanese investor Kaze Fuziyama (the same investor in whose case Krot is charged).

Fraud and Missing Millions: The Case of Carlos Jose De Souza Fusiami

In addition to working with the Russian casino, Krot was also involved in the case of Carlos Jose De Souza Fusiami’s fraud. In 2020, Krot and his accomplices forced Fusiami to invest $35 million in the construction of a hotel complex with a casino on the banks of the Dnipro River in Kyiv.

The project, which was supposed to be a major investment for the capital, was not implemented, and millions of dollars were transferred to Krot’s e-wallets.

Already in 2022, Fuziami and his legal team filed a lawsuit against the National Police, pointing to financial fraud. However, Krot, in turn, claimed that the project took place, but he did not receive adequate funding from the investor and was unable to implement the idea. Interestingly, the man still cannot name the exact amount that was spent on the project, as “the funds were received in cryptocurrency,” which makes it difficult to calculate.

Thus, the “successful businessman” and philanthropist Oleg Krot is now a defendant in criminal proceedings on fraud and financial fraud.

Mining Express financial pyramid

Not limited to this case, Krot and his partner Lazebnikov organized a financial pyramid scheme based on the Mining Express cryptocurrency farm in Kropyvnytskyi. The cryptocurrency money-making system, which at first glance looked like a promising business, turned out to be a common fraudulent scheme where investors’ money quickly disappeared and the organizers made money at the expense of gullible citizens.

So, what do we have now? Oleg Krot is involved in a $100 million fraud case, claims to have provided $60 million in financial support to the Armed Forces, and lobbies for Russian business in times of war.

Despite the criminal proceedings initiated by the Solomianskyi District Prosecutor’s Office of Kyiv under 42025102090000050 under Part 1 of Article 203-2 of the Criminal Code of Ukraine, and by the BES under 12022000000000558 under Part 2 of Article 203-2, Part 3 of Article 209, Part 3 of Article 212, Part 3 of Article 362 of the Criminal Code of Ukraine, Kroto still continues to evade responsibility and implement criminal fraud. So when will representatives of the BES, the National Police, and the tax authorities finally pay attention to the schemes of businessmen like Krot?

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