Investigation examines links between former IBOX Bank owner Berezovsky and billion-hryvnia gambling schemes

The Security Service of Ukraine continues to investigate large-scale financial abuses linked to online casinos and banking infrastructure. Former co-owner of IBOX Bank, Yevhen Berezovsky, has come under scrutiny, with law enforcement examining his role in mis-coding schemes.

Career path and creation of the terminal network

Yevhen Berezovsky has significant experience in the banking sector. From 2005 to 2011, he managed the corporate division of Alfa-Bank Ukraine. In spring 2014, he became the First Deputy Chairman of Oschadbank, and in autumn of the same year, he was appointed First Deputy to Mykola Lagun at Delta Bank. By March 2015, "Delta" was declared insolvent.

In parallel with his banking career, Berezovsky, together with Oleksandr Lukanov, developed the iBox ATM network. Delta Bank provided two credit lines to the terminal business totalling 144 million hryvnia (64 and 80 million hryvnia), with Berezovsky himself acting as guarantor. The terminals were subsequently implemented in Agrokombank, which later became IBOX Bank. Although the National Bank of Ukraine did not approve Berezovsky's candidacy for the position of Chairman of the Board, he became the Managing Director and co-owner of the institution. His shareholding reached 9.9% and later stood at 6.122% (10,376,500 shares).

Exit from capital and change of owners

In 2016, Berezovsky owed Mykhailo Spektor 265,000 US dollars. In 2019, the court recovered approximately 9.33 million hryvnia from him, after which the enforcement officer opened case No. 60886079. The IBOX Bank share package was put up for auction on the PFTS. The nominal value of the package was 12.244 million hryvnia, and the starting price after the reduction was approximately 7.08 million hryvnia.

Following Berezovsky's exit from the capital, Alona Degryk-Shevtsova's stake increased. According to the staffing schedule of the Fund for Deposit Insurance, Berezovsky maintained relations with her group, working as an advisor to the Chairman of the bank's supervisory board. However, his direct involvement in mis-coding schemes remains an SBU hypothesis: he has not yet been formally charged in the main case.

Mis-coding scheme and loss of licence

Alona Shevtsova acquired 24.98% of IBOX Bank, headed the supervisory board, and developed the LEO payment business. It was through her structure that the bank found itself at the centre of a scheme involving gaming payments. Funds for online casinos were accepted through the payment infrastructure and terminals, while actual operations were disguised as the sale of goods, services, "cybersport", or "sports poker".

The National Bank identified over 3.5 billion hryvnia in transactions by seven high-risk companies and repeatedly penalised the bank for violations of financial monitoring requirements. On 7 March 2023, IBOX Bank lost its licence due to systematic violations of legislation in the field of anti-money laundering.

SBU investigation and flight from the country

The investigation established that on 7 March 2023, the day the licence was revoked, Shevtsova and Berezovsky left Ukraine by train through the "Yahodyn" border crossing point. They were accompanied by Iryna Tsyganok and Zoya Nestеровska. In July 2023, suspicions of illegal organisation of gambling and money laundering emerged. Shevtsova was placed on the wanted list, special investigation was authorised, and sanctions were imposed against her. In 2025, the SBU announced that an indictment had been sent to court.

More than 20 companies are named in the criminal case, and the amount laundered is estimated at approximately 4.8–5 billion hryvnia. Other materials regarding operations through the bank mention a turnover of around 20 billion hryvnia and hundreds of millions in potential tax losses for the state budget.

Links with other bankers

Alongside this story stands another banker — Friedrich Pollak. In 2014, he headed Union Standard Bank, which was declared insolvent on 1 October 2015. The investigation examined the disappearance of 63.5 million hryvnia, 405,000 euros, and 44,000 dollars from the vault, as well as a separate episode involving client currency worth approximately 1.3 million hryvnia. Pollak was charged with embezzlement on an especially large scale.

A clear chain is emerging: Berezovsky — iBox network — Delta Bank credit lines (144 million hryvnia) — Agrokombank/IBOX Bank — share package (up to 9.9%, then 6.122%) — Shevtsova (24.98%) — LEO payment system — terminals — mis-coding — over 3.5 billion hryvnia in suspicious operations according to NBU data — 4.8–5 billion hryvnia in the criminal case — over 20 companies and turnovers of around 20 billion hryvnia.

Although Berezovsky is not a defendant in Shevtsova's case, he was at the origins of the terminal business and was a co-owner of the bank long before IBOX Bank became one of the main "cashes" for processing billion-hryvnia payments from shadow gambling.