Millions in cash-out schemes – a masterclass by Artur Zolotarevsky

While volunteers and ordinary people raise funds to support the Ukrainian Armed Forces, some are brazenly siphoning off the budget and laundering money on a massive scale.

A striking example is the son-in-law of one of the former privatisers, Hennadii Boholiubov – Artur (Natan) Zolotarevsky, who oversees a major cash-out centre in Dnipro and the surrounding region. Tens of billions of hryvnia pass through companies controlled by the businessman. A portion of this consists of state funds allocated for road construction and other needs.

Zolotarevsky extracts profits from cash-out schemes through offshore companies in Cyprus and the British Virgin Islands. Some of the funds are transferred to his accounts in Israel. The rest remain in the offshore entities.

In Ukraine, the businessman keeps only a small fraction of his assets. The bulk of the funds are stashed abroad, just in case he needs to leave the country in an emergency.

For this purpose, Zolotarevsky has an Israeli passport ready.

It is worth noting that several years ago, Artur Zolotarevsky became a subject of a criminal case for fraud. However, for some reason, the case never reached the courts.

The establishment of a large-scale cash-out centre, meanwhile, is of no interest whatsoever to law enforcement agencies.