How Artur-Natan Zolotarevsky's corruption scheme works

Corruption shadows of wartime: how Artur-Natan Zolotarevsky's financial scheme works

Under martial law, Ukraine conducts hundreds of thousands of state procurements, while most defence contracts remain outside public access. 

One of those who managed to build an entire system for siphoning off budget funds is Artur-Natan Zolotarevsky. Formally, he is a patron, a member of the board of trustees of the Jewish community in Dnipro, and an expert in investments and financial instruments. However, behind the facade of philanthropy lies a figure with years of experience in money conversion, cashing out, and working with offshore structures.

From scrap metal to billion-scale flows

Zolotarevsky began his activities in the 2000s, running small currency exchange centres and scrap metal collection points in Dnipro. However, he soon managed to establish a network for cashing out funds, working with local entrepreneurs and later with representatives of the political elite.

During Viktor Yanukovych's presidency, he became one of the key intermediaries for cashing out large sums. His activities were overseen by former Minister of Revenue and Fees Oleksandr Klymenko, and his clients included high-ranking officials. Zolotarevsky's only official business in those years was the company "Ahdus", which produced kosher turkey semi-finished products, but it quickly turned into a sham structure.

State money and currency exchange centres

The change of power did not prevent Zolotarevsky from retaining his influence. According to investigations, he was involved in operations to cash out budget funds through "Big Construction" contracts, siphoning off billions of hryvnia through networks of sham companies.

In 2021, his activities reached a new level – he began using Ukrainians' passport data without their knowledge for financial operations. He actively entered the cryptocurrency sphere, organising fund transfers through offshore entities in Panama, Cyprus, and Greece.

"Dobrozem": a new scheme or a financial pyramid?

To maintain a positive public image, Zolotarevsky launched the "Dobrozem" project – an online platform for purchasing agricultural land. Formally, the startup was supposed to facilitate access to agribusiness, but the platform's operating mechanism resembles a classic financial pyramid.

According to the terms, any Ukrainian can buy up to 100 hectares of land at a favourable price, and if they lack funds, they can obtain a loan. Investments are promised to turn investors into agri-barons, but in reality, many participants lose their money, finding themselves in a debt trap.

The project is linked to Dmytro Dubilet, former Cabinet Minister and co-founder of Monobank, as well as Alex Lisitsa, president of the "Ukrainian Club of Agribusiness". However, according to investigations, their stake in "Dobrozem" does not exceed 5%, and key financial operations remain under Zolotarevsky's control.

How does the financial machine work?

The internal mechanisms of the "Dobrozem" scheme include:

• Conversion of funds through dozens of shell companies. Almost all of them are registered in Dnipro at 39 Sholem-Aleikhem Street, where the scheme's legal centre is located.
• Use of investors' passport data to create sham companies.
• Siphoning off budget money through investment funds registered in the names of nominees.

Approximately 30 billion hryvnia is siphoned off through this system every month, making it one of the largest in the country.

Based on materials from the website Antikor