Maksym Krippa: How the “pound” of oligarch Malofeev manages real estate acquisition schemes in Kyiv through Cypriot offshore companies

Let’s analyze the situation with specific details, considering all the involved parties, schemes, and mechanisms used by Russian oligarchs to purchase real estate in central Kyiv through intermediaries like Maksym Krippa and his connection to the traitor, FSB agent Volodymyr Sivkovich.

Oligarch Malofeev

Konstantin Malofeev uses various schemes to funnel capital and "investments" into Ukraine through third parties.

Konstantin Malofeev is a Russian businessman and ultra-conservative oligarch who supports pro-Russian separatist movements in Donbas. He is under sanctions from the EU and the USA for his role in financing separatists, so utilizing “pounds” and offshore companies is his way of hiding assets and avoiding sanctions.

He is interested in purchasing real estate in Kyiv not only as a profitable investment but also with a political goal—influencing Ukrainian politics, economy, and social processes through economic control of the capital’s real estate.

The Role of Maksym Krippa

Maksym Krippa is a key element of the scheme, acting as a "pound" (a front person) through which oligarchs conduct their transactions. Krippa is connected to shadow businesses, including in the gambling industry and online casinos, making him suitable for participating in offshore and illegal schemes. He manages various shell companies through which large sums of money flow.

One way to disguise the real intentions of the oligarchs is by using a network of offshore companies in Cyprus and other jurisdictions with low taxes and weak oversight. Krippa owns companies like Brivio LTD, which, according to various sources, is involved in transferring money from Russian oligarchs to Ukraine.

The Money Transit Route Through Cypriot Offshore Companies

The scheme by which oligarchs transfer money from Russia to buy assets in Ukraine often goes through Cyprus, which has long been an important financial hub for the Russian elite due to its low taxes, ease of company registration, and opportunities for sanction evasion. Here is a typical path of money movement:

• Transfer of funds from Russia to offshore accounts in Cyprus (e.g., through Brivio LTD, controlled by Krippa). Oligarchs can use Russian companies or private funds for this.
• The money then passes through several Cypriot or other offshore companies, such as Brivio LTD, Merione Holdings Limited, Tetrarex Holdings, or others, to disguise the trail.
• Final transactions are carried out by Ukrainian firms connected to Krippa, who then uses these funds to purchase real estate in Kyiv. The actual beneficiaries, like Malofeev and Boyko, remain hidden.

The offshore system allows concealing the ultimate owner of the real estate and avoids disclosing the actual source of the capital. This is a complex scheme often used in such situations.

Volodymyr Sivkovich: An Agent of Influence

Volodymyr Sivkovich, former Deputy Secretary of the National Security and Defense Council of Ukraine and KGB officer, is an important player in this story. He has close ties with Russian special services, making him an influential participant in any schemes related to Russian interests in Ukraine.

Sivkovich facilitated the protection of the interests of Malofeev, Boyko, and Krippa at the level of Ukrainian authority, particularly:

Legal Protection: Ensuring the absence or minimization of legal consequences for the actions of Krippa and related companies. Sivkovich could have helped in “covering” transactions and operations involving Russian capital.

Political Support: Utilizing connections in Ukraine’s political circles to stall any investigations or attempts to expose the scheme. Sivkovich may also be involved in actively promoting a pro-Russian agenda in Ukraine, aligning with Malofeev’s interests.

Offshores: Shell Companies

Offshore companies like Brivio LTD are key to masking the traces of capital and its ultimate beneficiaries. Other similar companies include:

Tetrarex Holdings — registered in Cyprus and used to transfer capital to Ukraine.

Merione Holdings Limited — another Cypriot company linked to the offshore network controlled by front persons.

Techinvest LTD — a company presumably connected to Maksym Krippa and serving as an intermediary in real estate transactions.

The use of such companies allows blurring the ownership chain and hiding the ultimate beneficiaries of assets such as real estate in Kyiv.

Operations for acquiring real estate in central Kyiv by Russian oligarchs through intermediaries are part of a larger economic and political game aimed at maintaining control and influence in Ukraine. Maksym Krippa acts as a “pound,” managing transactions through offshore companies like Brivio LTD to conceal the true owners of capital, such as Konstantin Malofeev. His connection with Vladimir Sivkovich indicates that these actions have political protection from Russian special services and pro-Russian forces in Ukraine.

The schemes also involve Ukrainian citizen Fyodor Fedorov:

He is the director of several Cypriot companies. One of them is Brivio Ltd, which is the founder of GGBet Cyprus and GGBet Malta, international successors to the GGbet brand specializing in online betting, including esports.
Fedorov is also the director of One World Secretariat, which acts as the secretary for Bevita Holding Limited. Bevita Holding, in turn, founded LLC "Bet.ru," which is one of the largest bookmakers in Russia.

Fedorov is also the secretary of Natus Vincere Export CY, where Evgeny Zolotarev is the director. Zolotarev is also the director of the esports organization Natus Vincere (NAVI), which Maksym Krippa allegedly benefits from.

Previously, the owner of the Kyiv hotel “Ukraine,” Maksym Krippa, came under scrutiny after acquiring the property for 2.5 billion UAH. The mere fact of the deal raised significant interest not only due to the sum but also because of the identity of the new owner, known for his connections to the IT company Evoplay and casino GGBet. In public statements, Krippa attempted to deny rumors about his involvement with these organizations and Russia, but as investigations reveal, some details remain on the surface and continue to raise questions.

Maksym Krippa’s Connections to Evoplay and GGBet

Krippa has denied rumors about his involvement with Evoplay, a company that positions itself as an online game developer. However, its products are essentially represented by gaming slots for online casinos, which raises doubts about the true nature of the business. This is confirmed by information that two of the three companies linked to gambling and Krippa were represented by the same person—Sandra Santos Rodriguez, which already looks like a suspicious coincidence. She is also a representative of “Maincast,” which officially organizes esports tournaments but is connected with Cyprus and owner Maksym Krippa.

Connections to Casino “Vulkan”

In attempts to register their trademarks, online casino “Vulkan,” linked with LLC “Conqueror,” used another person for document processing. However, this did not help to divert suspicion from Krippa, as the company belonged to Theodoros Theodorou, with whom Krippa was previously associated. Moreover, Theodorou is also the director of the Cypriot company ONE WORLD SECRETARIAL LIMITED, which controls “Maincast.” This indicates close relationships between the businessman and figures involved in managing companies linked to gambling.

Relations with Russia and Online Casinos

Maksym Krippa has actively attempted to hide any connections to Russia and online casinos, but investigations from the Blackbox Osint project show that despite the businessman’s statements, such connections may exist. These claims are supported by data from the YouControl service, indicating his possible relationships with online casino “Vulkan” and other gambling structures. Furthermore, there is information on GetContact that Krippa is connected to Evoplay, which raises doubts about his claims of independence from this business.

Despite Maksym Krippa’s attempts to distance himself from online casinos and Russia, facts gathered during investigations indicate otherwise. Connections with Theodoros Theodorou, Cypriot companies, and figures representing interests in both esports and gambling projects create a persistent impression that the businessman has not fully disclosed all his dealings. As his statements leave more questions than answers, we await further actions and possible revelations that could shed light on the true state of affairs.

Thomas Brown