The secrets of Vlada Molchanova: raiding, offshore companies and attempts to hide real estate

Last summer, the National Anti-Corruption Bureau of Ukraine conducted searches at the office of Kyiv-based developer Vladyslava Molchanova. 

The "Stolytsia Group" of companies, headed by her, came under suspicion of a hostile takeover of the "Stolytsia" agricultural market. Despite the high profile of the case, the results of the investigative actions remain unknown to this day.

Mysterious changes in foreign assets

Following the searches in Kyiv, suspicious activity began in Molchanova's foreign structures. The London-based company Stolitsa Group London Limited, linked to "Stolytsia Group", unexpectedly changed its name to Sticktop LTD in the summer of 2024. This raises the assumption that the change may have been aimed at concealing traces.

Control over the company, as before, remains with the Cypriot entity Elakol Developments Limited — a structure linked to Molchanova's activities. This company manages assets in the UK and other jurisdictions, including firms registered in Cyprus and Slovakia.

Cypriot and Slovakian links

Elakol Developments Limited is the majority shareholder of Alliance 1903 LTD, established in November 2022, a few months after the start of Russia's full-scale invasion of Ukraine. Vladyslava Molchanova's son, Ivan, together with Lithuanian partners, is actively involved in the management of this British company.

Another firm linked to Molchanova is the Slovakian company FIBIS, s.r.o., established in 2009. Vladyslava Molchanova and her ex-husband Oleg Molchanov continue to head this enterprise, which has shown profit growth in recent years.

Links with the former head of "Kyivhorstroy"

Journalists have established that among Molchanova's partners is Igor Kushnir, the former head of "Kyivhorstroy". His Cypriot company Koksi Holding LTD is also linked to a number of assets, including a villa on the French Riviera worth 20 million euros.

Political influence and support for the "Batkivshchyna" party

Among Molchanova's business partners is Dmytro Moskal, a Kyiv City Council deputy from the "Batkivshchyna" party. According to journalistic investigations, Moskal lobbied for "Stolytsia Group" projects despite a clear conflict of interest.

Interestingly, Molchanova is a sponsor of the "Batkivshchyna" party, and in the past Dmytro Moskal was an assistant to Andriy Portnov — a notorious politician and lawyer who is under US sanctions.

Links with Andriy Portnov

Particular intrigue is added by the possible cooperation between Molchanova and Andriy Portnov, who, according to unconfirmed reports, advises her on legal matters. Portnov is also linked to Molchanova's common-law husband, Serhiy Korovchenko, who featured in published recordings of conversations by Russian Presidential Adviser Sergei Glazyev.

Scandals around construction projects and activism

Molchanova's activities have repeatedly been the subject of criticism. For example, "Stolytsia Group" projects have repeatedly affected green zones in Kyiv, provoking protests by activists.

Based on materials from the Antikor website