27.09.2024 Business of Occupiers Construction Corruption Money laundering

How Medvedchuk is trying to withdraw money from Ukrainians who bought real estate in the capital

The Northern Commercial Court of Appeal will hear case No. 910/13311/23, an appeal filed by Evo-Invest, an investment fund associated with the traitors Medvedchuk and Kozak, who fled to Russia.

With the beginning of the full-scale invasion, the fund refused to fulfill its obligations to finance numerous projects in Kyiv. Therefore, now the traitors are trying to withdraw the funds already paid by investors, leaving people without housing and livelihoods.

According to the traitor’s “wallets”, it is not in the interests of Medvedchuk and Kozak to continue financing the construction work that has begun and fulfill their obligations to individuals in the current state of war with Russia. And this is quite logical.

That is why Medvedchuk’s foundation filed a lawsuit against one of Kyiv’s real estate developers demanding that the funds deposited by investors from Ukrainian accounts be transferred to its own benefit.

It is clear that after Evo-Invest JSC’s claims are satisfied, all funds will be transferred to Medvedchuk and Kozak’s offshore and Russian accounts, leaving Ukraine and its citizens with nothing.

By initiating numerous lawsuits with the help of lawyers to invalidate investment agreements and annexes to them, the traitors are trying to free up and withdraw funds that are not covered by the sanctions mechanism.

If this really happens, the capital will be filled with dozens of frozen facilities like Elita Center, Ukrbud, Arkada Bank, and others.

This process has already gradually started with the suspension of construction of residential complexes by ENSO. As a result, the construction of Fjord, Poetics and Diadans has been blocked for a long time. And the developer’s company is now “wandering” from hand to hand, changing its owner and manager.

In early 2020, Evo Invest passed from the hands of Stolar’s entourage to the hands of Estonian businessman Alexei Chulets. The latter is closely associated with Medvedchuk. Therefore, we can only talk about a formal transfer of control.

Who received funding from Evo-Invest?

The analysis of the Fund’s activities revealed that the top counterparties of the JSC include not only private LLC Town Land Company and LLC A.M. Alfa Group, but also the State Institution Agency for the Development of Stock Market Infrastructure of Ukraine.

Evo Invest JSC also financed the construction of residential neighborhoods of the capital’s ENSO developer, as well as other complexes of developers controlled by Stolar. As a reminder, the former MP from the OPFL still controls the activities of BudCapital, IB Alliance, bUd development, and the aforementioned ENSO.

Thus, a dozen projects of the listed developers may be at risk of unfinished construction.

Chronicle of Evo Invest litigation

On November 06, 2023, the decision of the Kyiv Commercial Court in case No. 910/12076/23 upheld the claims of TOWN LAND COMPANY LLC and recovered from Evo Invest JSC a debt of UAH 270 million for construction work. Earlier, Medvedchuk’s representative Sydorenko tried to transfer these funds to the traitor’s foreign accounts.

At that time, it also became known that the accounts of EVO INVEST in the banking institution JSC CRYSTAL BANK contained another amount of funds of individuals, which TOWN LAND COMPANY LLC planned to recover by filing a lawsuit.

In order to prevent investors from losing their contributions, we filed an appeal to the management of JSC “Crystal Bank” with a request to prevent the Fund from withdrawing the funds and to block them until a final legal court decision is made.

Reaction of law enforcement and the judiciary

According to the decision of the Kyiv City Commercial Court, TOWN LAND COMPANY LLC managed to recover the debt from the Medvedchuk Foundation. However, judges of some other Kyiv courts showed their own reluctance to eradicate Medvedchuk’s influence on the construction market.

For example, the Shevchenkivskyi District Court of Kyiv (case No. 761/27787/24) denied our request to oblige investigators of the Bureau of Economic Security to initiate a pre-trial investigation into the case related to the financing of residential buildings in the capital by traitor Medvedchuk. This reaction did not come as a surprise to us, as the head of the court, Yevhen Martynov, has been repeatedly accused of playing along with traitors and protecting their interests.

Unlike the Shevchenkivskyi District Court of Kyiv, the investigating judges of the Solomianskyi and Pecherskyi District Courts of Kyiv, on the contrary, satisfied our complaints and ordered the Office of the Prosecutor General and the SBU in Kyiv to launch pre-trial investigations.

We also have a list of criminal proceedings initiated by the TU BES in Kyiv: No. 72024102200000053, part 1 of Article 212 of the Criminal Code of Ukraine, No. 72024102200000052, part 2 of Article 201-4 of the Criminal Code of Ukraine. However, we cannot yet speak about the special initiative of law enforcement officers and the actual investigative actions taken by them.

Subordination of lawyers to Medvedchuk

The media often associate the head of the Ukrainian National Bar Association and the Bar Council, Lidiya Izovitova, with the traitor Medvedchuk. The woman uses her high status to informally represent the interests of the latter’s organization in the judiciary and law enforcement agencies. Among other things, Izovitova contributes to violations of legal ethics and the failure to bring to justice lawyers from Medvedchuk’s structure.

Moreover, it is a well-known fact that Izovitova personally opposed Medvedchuk’s disbarment and took measures to persuade other members of the legal community to justify the traitor’s actions.

Therefore, it is not surprising that some judges and law enforcement officers protect the interests of Medvedchuk’s structures, despite his ties to Russia.

We can confidently say that today’s court hearing will make it clear who will win: justice or Medvedchuk? And whether the man will be able to withdraw the funds of Ukrainian investors to Russia.

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