Banker and politician Vadym Morochovskyi, the leader of the Servants of the People faction in the Odesa City Council, actively invests in the construction of elite housing in Montenegro. Last year, the construction of one of the most expensive residential complexes in the country - Dreams by Dukley - . Prices for apartments in it start from 1 million euros. The cost of investments in the project exceeds, according to realtors, 10 million euros. The initiator of the construction and the owner of the plot of land is Centurion Investment & Development, a company related to the Morokhovsky family.
This is what the building will look like after commissioning (expected in October 2025). It will be a fashionable complex with 43 apartments with a total area of almost 11,000 square meters. The foundation was already poured here last year, and now the construction of the first floor is being completed. The complex is being built on the territory of the former Arsenal repair plant next to the Tivat yacht marina and another elite Montenegrin resort, Porto Momtenegro.
Another Montenegrin firm, EM Investments, became the owner of 100% of the above-mentioned Centurion Investment & Development firm in April 2023. In a 50-50 ratio, it belongs to Lia Morokhovska, the wife of Vadym Morokhovsky, and Dragan Prelevych, a reputable Montenegrin lawyer.
Prelevych, in particular, has repeatedly managed the affairs of the Montenegrin bank Zapad Banka, which the Morokhovsky family owns together with the owner of the Silpo network, Volodymyr Kostelman. But Prelevich has also been cooperating with Nilo (Naum) Emilfarb, the owner of the Dukley brand, one of the largest hoteliers and private landowners in Montenegro, for a long time. Now Morokhovskyi and Emilfarb are partners in the construction of the Dreams by Dukley complex.
Naum Emilfarb emigrated from the USSR to the West back in 1979, made a fortune in the US, of which he is a citizen, and now owns a number of premium hotels and apartments in Tivat and Budva, as well as the Kolasin ski resort (the Montenegrin equivalent of Bukovel). On the one hand, Emilfarb financially supports the Russian opposition in exile, in particular, he is the main sponsor of the forum of Russian-speaking culture in Europe "SlovoNovo" and its ideologist - gallerist and publicist Marat Gelman, who has now settled in Montenegro. On the other hand, the development company Emilfarb Stratex runs a joint business with committed Putinists Yuriy Kushnerov and Leonid Levitin (see the investigation "Vazhnyh istoriy" ). The latter is the brother of Putin's advisor Igor Levitin.
The Emilfarb team is already actively selling housing in the complex under construction. And Zapad Banka provides loans for its purchase. The purchase can also be paid for in cryptocurrency or directly in Russia (see announcement ). Individual citizens of the Russian Federation and Ukraine have already become the first owners of apartments in Dreams by Dukley. Among the interesting figures is Yehor Dorovsky, a businessman from Kharkiv, a former deputy of the city council.
And Lia Morokhovska also owns half of a plot of land with a total area of 756 square meters in the prestigious suburb of Tivat - Donya Laštva. The owners of the other half are the former head of the Montenegrin tax service, Dejan Marinovich (through the Graal company) and Marko Gvozdenovich, the son of the former Montenegrin vice-premier Branimir Gvozdenovich (through the Iron investments and advisory firm). At the same time, Marynovich currently works at Zapad Banka, where he is a member of the supervisory board. His company Graal owns two more plots of unburnt land. And the owner of another one next door is the Adriatic Capital advisory company, which is registered in the Montenegrin capital Podgorica at the same address as Zapad Banka.
At least two of these plots have already been built with 3-story premium apartment complexes. From the analysis of Vadym Morokhovsky's declarations, it follows that in 2022-2023 Liya Morokhovskaya received an income of more than UAH 40 million from these sales. Local citizens predominate among real estate buyers. But there are also a few Ukrainians. For example, Anatolii Stryk, technical director of the BRSM gas station network. He bought the apartment together with Angela Larkina, who at one time appeared in the Bihus.info investigation into the financing of Anatoly Shariy's party.
Another luxurious hotel and residential complex in the Morokhovsky family is Dobrota Palazzi in the village of Dobrota near the city of Kotor. It was bought 10 years ago by the nephew of the former Prime Minister of Montenegro Milo Djukanovych - Edin Kolarovych through the company Serzman Incorporated (this is a separate long story ). In short, he invested approximately 20 million euros in the development, for which he attracted loans from Zapad Banka. But one Estonian firm - Calyptra Invest, the sole owner of which is still the same Liya Morokhovska, became the guarantor for the loans. At the same time, Morokhovska owns 38.02% of the shares of Zapad Banka. And another 19.35% of the bank's shares were registered at Calyptra Invest. The circle closes. Both the creditor and the guarantor are related parties. So it's all very similar to buying real estate in disguise.
