The “Stolichny” Market Case: NABU Has Concluded Its Investigation
12 August 19:24
The National Anti-Corruption Bureau (NABU) and the Specialized Anti-Corruption Prosecutor’s Office (SAP) have completed the pre-trial investigation in the criminal case concerning the misappropriation and subsequent legalization of 18 hectares of state-owned land belonging to the “Stolichny” market, valued at over 160 million hryvnias. This was reported by NABU, according to "Komersant Ukrainian".
According to the bureau’s press service, in September 2025, a former member of parliament and two individuals under his control, a Kyiv-based developer and a person under her control, and the former head of the regional office of the State Geocadastre of Ukraine were notified of their status as suspects under Part 5 of Article 191 (misappropriation, embezzlement, or acquisition of property through abuse of official position) and Part 3 of Article 209 (money laundering) of the Criminal Code of Ukraine.
“According to the investigation, in the spring of 2021, during a corporate conflict between a former People’s Deputy from the ‘Party of Regions’ and a Kyiv-based real estate developer over control of a wholesale market in the Kyiv suburbs, the latter formed the intent to transfer the market’s assets to legal entities and individuals under her control,” the statement reads.
The NABU notes that, to this end, changes were made to the State Land Cadastre, which allowed the State Geocadastre to dispose of the land parcel on which the wholesale market, covering an area of over 150 hectares, is located; Subsequently, the land plot was leased to a company controlled by the developer.
Afterward, according to the bureau, the company’s director relinquished part of the leased land in favor of nine predetermined individuals who, based on an order from the acting head of the State Geocadastre in the Kyiv region—in violation of land legislation—acquired ownership of nine land plots totaling 18 hectares, and subsequently, based on fictitious legal transactions, sold them to three companies affiliated with the developer.
“In the process of resolving the conflict, the developer and the former MP signed a memorandum (‘agreement’) regarding the joint use of the land plot, in particular for development, and in September 2021, a representative of the former lawmaker became one of the beneficiaries of the companies that own the land plots,” the NABU stated.
Last September, as part of this case, the National Anti-Corruption Bureau issued a warrant for the arrest of Yuriy Ivanyushchenko, a former MP from the Party of Regions. Ivanyushchenko and other individuals implicated in this case have not commented publicly.
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The essence of the case related to the “Stolichny” market
Former MP Yuriy Ivanyushchenko, real estate developer Vladislava Molchanova, the head of a private company Yuriy Tsvigun, lawyers Kostyantyn Balandin and Anton Arefiev, as well as the former head of the regional State Geocadastre, Mykola Tereshchenko, are suspected of involvement in a large-scale land fraud scheme. According to investigators, they organized the illegal seizure of 18 hectares of state-owned land worth over 160 million hryvnias—on which the “Stolichny” market is located—using forged documents and their official authority.
Back in the early 2000s, the Kyiv-Sviatoshyn District State Administration granted the state-owned enterprise “Pushcha-Vodytsia” permanent use of over 1,400 hectares of land for agricultural purposes. Part of this area—157.4 hectares—was seized and leased to RSP “Stolychny” LLC for a term of 25 years. The land was officially designated for the construction and maintenance of market infrastructure, while ownership remained with the state.
Subsequently, “Stolichny Market” found itself at the center of a corporate conflict. Control over it was shared by Ivanyushchenko and Molchanova, who acted through companies under their control. In late 2020 and early 2021, the escalation of the conflict forced Molchanova to seek a way to secure her influence over the market’s assets. According to investigators, it was then that she formed the intent to illegally take possession of part of the leased land by changing its legal status.
According to the investigation, the mechanism chosen to carry out the plan was the free privatization of land “for the purpose of personal farming.” Formally, the plots were to be transferred to straw men, with the right to dispose of them subsequently transferred to the developer. A key element of the scheme was the involvement of Mykola Tereshchenko, then-head of the Main Directorate of the State Geocadastre in the Kyiv region. He was the one authorized to sign documents regarding the disposal of state-owned land.
The investigation established that the land-use plan was initially forged. In the documents, the designated use of the plot was changed from “construction of market infrastructure” to “personal farming.” These changes were authenticated with the signatures and seals of State Geocadastre officials, creating the appearance of legality. On March 31, 2021, the state cadastral registrar officially entered the changes into the State Land Cadastre.
The next step was to replace the lessee. On April 6, 2021, an agreement was signed at a notary’s office to transfer the lease rights from LLC “RSP ‘Stolichny’” to LLC “Oilsi,” a company controlled by Molchanova. The agreement involved Tereshchenko, the director of “Oilsi,” and a representative of “Stolichny.” In this way, the plot came under the control of an entity affiliated with the developer.
As a result, “Stolichny” lost the land, while the entity controlled by the developer obtained de facto rights to the plots designated for commercial development. Further disposal of the land parcel was halted by a seizure order issued at the request of prosecutors from the Specialized Anti-Corruption Prosecutor’s Office (SAPO).
Ivanyushchenko left Ukraine after the Revolution of Dignity and is currently wanted. In March 2026, the National Anti-Corruption Bureau of Ukraine (NABU) appealed to the President of Ukraine and the Security Service of Ukraine (SBU) to initiate sanctions against him.
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