Grain trader Tereshchenko suspected of money laundering via OnlyFans

Ukrainian businessman and owner of several agricultural companies Roman Tereshchenko has become the focus of a large-scale financial investigation.

Investigators suspect him of tax evasion and money laundering through international platforms, including OnlyFans. According to case materials from the Bureau of Economic Security (BES), the entrepreneur registered on the platform as a webcam model, which allowed him to transfer millions of dollars abroad.

Complex network of companies and suspicious transactions

Tereshchenko is the owner of a number of companies operating in the grain export and logistics sector:

• Grain Export LLC – engaged in the export of grains and oilseeds.
• Fram Shipping Agency LLC – a stevedoring company.
• Transservice 2008 LLC – a grain elevator.
• Specialised Grain Terminal "Chornomorsk" LLC – a terminal for grain transshipment.

Investigators established that Tereshchenko is also the ultimate beneficial owner of a number of foreign entities through which financial operations were conducted:

• Ntk Trans Poland (Poland)
• Trans Trade RK SA (Switzerland)

The State Financial Monitoring Service identified suspicious transactions totalling UAH 128.2 million between September 2020 and July 2022.

Use of OnlyFans for financial fraud

Investigators paid particular attention to a scheme in which Tereshchenko opened an electronic wallet in the Paxum Inc system, used by video chat models. He registered as a webcam performer, despite not meeting the platform's criteria.

Through 363 P2P transactions, he received over $3 million, including $1.02 million from the business account of Fenix International Limited – the owner of OnlyFans. These funds are believed to have been part of a scheme to move capital abroad and minimise taxes.

Undervaluation of services and offshore schemes

In addition to the OnlyFans fraud, law enforcement agencies identified a discrepancy in the cost of cargo transshipment through the Tereshchenko-controlled company "Fram Shipping Agency". The declared price of services was UAH 120/tonne, whereas the average market rate in Odesa Oblast is $13-14 (approximately UAH 540/tonne). This may indicate deliberate underreporting of tax liabilities.

The investigation also involves the companies Reed Sarl (Switzerland), Stingth Ad Research Kft (Hungary), Brown And Hill Ltd (United Kingdom) and Olider Sp z.o.o (Poland). They are suspected of:

• using Paxum Inc to conceal the true origin of funds,
• conducting multi-layered transfers through the jurisdictions of Switzerland, the UAE, Hungary and Poland.

If the charges are confirmed, Tereshchenko may face criminal liability under Part 1 of Article 212 of the Criminal Code of Ukraine – tax evasion.