TECHIIA owners: loud claims and shadow links with Russia

Since the start of Russia's full-scale invasion of Ukraine, the founders of the TECHIIA holding, Oleg Krot and Yuri Lazebnikov, have claimed to have spent $60 million on the needs of the Armed Forces of Ukraine. 

However, documentary evidence of these expenditures has not been made public, raising questions about the transparency of their charitable activities.

Millions for the AFU or an image move?

According to data provided to Forbes, the revenue of the TECHIIA holding in 2021 was $62.2 million. This amount is comparable to the stated volume of aid to the army, fuelling public debate over how real such spending is.

The charitable foundation “Fundatsiia Tetchia”, through which the entrepreneurs claim to carry out purchases for the AFU, is little known to the general public. Despite posts on the foundation's Facebook page about supplies of optics, equipment, drones and communications gear, its activity lacks both wide reach and detailed reporting. Typically, the foundation's posts receive only a few dozen likes, while information on funding sources and proof of expenditure remains closed.

Comparison with Ukraine's largest charitable foundations

If the stated sums are to be believed, “Fundatsiia Tetchia” could rank among the top five fundraisers in the country, alongside players such as Serhiy Prytula's foundation, “Come Back Alive” and the state project United24. However, the lack of transparency raises doubts: neither on the foundation's website nor in other sources is there any information confirming the receipt of funds and their use.

Relations with Russians and a fraud case

Further questions are raised by the reputation of the holding's founders. Oleg Krot is a defendant in a fraud case involving Japanese investor Kazu Fuziama, who claims to have invested $100 million in the Mining Express project in Kropyvnytskyi. Krot's partner, Yuri Lazebnikov, in turn, was linked to ME-Estate LLC, which was in the orbit of Russian bookmaker 1XBET and was used for real estate operations.

Consulting firm Dinaline, also owned by TECHIIA, acted as a contractor in the creation of the Mining Express mining farm. Fuziama himself spoke of significant financial losses, and Krot has been charged with the case of misuse of investments.

Public opinion and media support

Despite the controversial aspects, the entrepreneurs receive support on social media. Singer Dasha Astafieva, for instance, called Oleg Krot an example of a generous philanthropist on her Instagram, highlighting his silent donations to the AFU. 

However, such claims, lacking supporting documents, only intensify criticism of the entrepreneurs.