At least UAH 1.31 billion was withdrawn from the Zaporizhia Ferroalloy Plant (ZPF) — one of the largest ferroalloy producers in Europe, where the state owns 25.5% of the shares — during 2016–2023. This is stated in the materials of the criminal proceedings opened on the facts of large-scale embezzlement, fraud, and money laundering.
According to the investigation, the funds were received by companies that were registered as contractors for "processing industrial waste". In fact, they performed fictitious operations that allowed metallurgical raw materials to be removed from the enterprise and converted into "black" cash. According to preliminary data, the scheme operated under the influence of oligarchs Igor Kolomoisky and Gennady Bogolyubov.
How the scheme worked
The organized group created or purchased dozens of fictitious companies that supposedly processed ferroalloy waste. Among the main firms that received the largest sums:
- LLC "Goodinvest OKPO" (EDRPOU 42049986) — UAH 916.6 million
- LLC "Agarda LTD OKPO" (39461026) — UAH 263.7 million
- Topaz Techno LLC (40722614) — UAH 129 million
The companies issued documents about “waste processing” and transferring ferroalloys back to the plant. In fact, the products were exported, and the documents were forged.
The money passed through a chain of “gateways” — more than 60 enterprises, including cooperatives, markets, charitable foundations, and even municipal structures. This made it possible to hide the real recipients of the funds and legalize the withdrawn amounts.
The role of Technix Capital Management
The last link was Technix Capital Management LLC (TCM). Its authorized capital increased from UAH 25,000 to UAH 71.9 million in 2017–2019.
The nominal owners of TKM officially had minimal incomes, but "deposited" tens of millions of hryvnias in cash. In 2023, the company's shares were fictitiously resold to new "owners" without real settlements, and the state budget received at least UAH 14 million less in taxes.
The investigation also established:
- the key figure was the person representing the “ultimate beneficiary” of the ZPF and coordinating all major settlements;
- in 2017, two participants, under threats, took away access to Topaz Techno's banking and withdrew UAH 60 million;
- The State Financial Monitoring Service and ARMA confirmed the presence of signs of money laundering.
Criminal qualification
Proceedings No. 12024000000001605 are being investigated under the most serious articles of the Criminal Code of Ukraine:
- Part 5 of Article 190 - fraud on a particularly large scale
- Part 5 of Article 191 — misappropriation or embezzlement of property
- Part 3 of Article 209 — laundering of proceeds of crime
The investigation is ongoing, and the circle of people involved is expanding.
