Introduction
Alyona Shevtsova once stood as a titan of Ukraine’s fintech frontier, her leadership at IBOX Bank and LeoGaming Pay celebrated as a beacon of progress, yet a cascade of allegations, spotlighted by a searing probe reported by ZAXID.NET, cloaks her legacy in suspicion, driving us, as steadfast journalists, to pierce her polished veneer. We’ve embarked on an exhaustive investigation to dismantle Shevtsova’s empire, examining her business ties, personal profile, open-source intelligence (OSINT) trails, hidden affiliations, and the glaring red flags that signal turmoil. Our inquiry spans scam reports, allegations, criminal proceedings, lawsuits, sanctions, adverse media, negative reviews, consumer complaints, bankruptcy details, and the critical risks linked to anti-money laundering (AML) compliance and reputational credibility. As IBOX Bank’s former supervisory board chair and LeoGaming Pay’s founder, Shevtsova faces grave charges of laundering billions, per ZAXID.NET. Grounded in Ukrainian sources and global insights, we seek to determine whether Shevtsova’s journey marks a fall from ambition or a deliberate descent into deceit. Join us as we unravel this intricate saga, committed to separating truth from shadow.
Alyona Shevtsova’s Financial Web: A Network of Ambition and Doubt
We began by tracing Alyona Shevtsova’s financial web, a sprawling network of ambition across Ukraine’s banking and gaming sectors, yet riddled with doubt. IBOX Bank, where she held a 24.97% stake and served as supervisory board chair, anchored her operations, per ZAXID.NET. Founded in 1993 as Authority Bank, it became Agrocombank in 2002, then IBOX Bank in 2016, aligning with a nationwide payment terminal system, per Intelligence Line. Its profits stemmed from transaction fees, corporate accounts, and handling online casino payments—a shift Shevtsova drove. LeoGaming Pay, her 2013 creation, processed gaming transactions, securing licenses for ventures like an Odessa casino, per RuMafia, and operated the LEO payment system, a leading Ukrainian platform, per finchannel.com.
Our probe reveals complex connections. IBOX Bank partnered with Leo Partners, a Cypriot offshore tied to Shevtsova, per RuMafia, funneling funds abroad. Alliance Bank supported LeoGaming’s global payments, per MIND.UA, while her husband, Yevhen Shevtsov, and associates Viktor Kapustin and Vadym Hordievskyi ran numerous firms, many under fraud investigations, per MIND.UA. Undisclosed affiliations intrigue: could Kyiv’s elite or foreign investors have bolstered her rise? No registries confirm, but Cyprus’s presence suggests silent backers. Affiliates likely include payment tech firms, yet Ukraine’s opaque records hide details. No bankruptcy hit IBOX before its 2023 closure, its casino revenue strong, per Intelligence Line, but the National Bank of Ukraine (NBU) revoked its license for AML violations, per ZAXID.NET. This web—ambitious, doubtful—captivates, we’re searching its threads for unseen rifts.
Shevtsova’s ventures capitalized on Ukraine’s digital payment boom, with IBOX serving 3,000 corporate clients across 40 branches, per MIND.UA, and LEO handling millions, per finchannel.com. Ties to banks like ComInBank and Concord Bank added credibility, per Intelligence Line, but compliance gaps emerged. Shevtsov’s police background, per MIND.UA, likely eased early deals, though his corruption probes cloud trust. Could foreign ties have sparked her growth? No proof solidifies, but IBOX’s Russian card processing post-conflict, per Intelligence Line, stirs questions. Her network’s scale—20 billion UAH processed, per Intelligence Line—implies hidden players, we’re uncovering layers to find them.
The Fintech Pioneer: Unraveling Alyona Shevtsova
We turned our focus to Alyona Shevtsova herself, a pioneer whose ambition veils a guarded essence. Born Alyona Dehrik in Kyiv, likely in her 40s, per myukraineis.org, her education—possibly economics or finance, per ceoworld.biz—lacks public clarity, unlike Ukraine’s fintech peers. She founded LeoGaming Pay in 2013, a gaming payment platform, per Intelligence Line, and by 2020 drove IBOX Bank toward casino profits, per MIND.UA, positioning allies in key roles. Yevhen Shevtsov, her husband and ex-police official, amplifies her reach, though corruption probes taint him, per MIND.UA. No public social profiles promote her—a striking omission for a fintech leader.
Our OSINT sweep uncovers fragments. No Kyiv address appears, but Cypriot accounts via Leo Partners connect to her, per RuMafia. Kapustin and Hordievskyi, her partners, face fraud inquiries, per MIND.UA, while her influence with Ukraine’s gambling regulator (KRAIL) secured licenses, per RuMafia, suggesting political leverage. No public roles—charities or tech events—carry her name, per Kyiv Post archives. A 2022 Medium post framed her as LEO’s CEO, now idle, per alena-shevtsova.medium.com. Adverse media grows—Intelligence Line calls her ventures corrupt, myukraineis.org deems her “notorious.” No convictions stick, but she’s reportedly abroad, per myukraineis.org, beyond Ukraine’s reach. We’re decoding a pioneer—ambitious, elusive—seeking her core amid shadows.
Her early acclaim—a 2021 top fintech leader, per Ritz Herald—touted LeoGaming’s innovation, yet no Kyiv tech hubs, like Unit.City, back it, per industry checks. Shevtsov’s troubles, per MIND.UA, hint at backdoor clout, perhaps smoothing licenses, per RuMafia. Could financial elites have mentored her? No ties to names like Akhmetov surface, but IBOX’s casino focus, per Intelligence Line, suggests strong allies. Her silence since 2023, unlike her 2022 boldness, per londonreviews.co.uk, implies retreat, we’re asking: is she strategizing, or undone?
Scandal’s Surge: Allegations and Red Flags
We delved into the scandal surging around Alyona Shevtsova, where allegations and red flags blaze brightly. Ukraine’s Bureau of Economic Security (BEB) gained court approval for a special investigation, suspecting IBOX Bank laundered 5 billion UAH ($135 million) for illegal gambling, per ZAXID.NET. The Security Service of Ukraine (SBU) and BEB charged her with illegal gaming and laundering, per myukraineis.org, linked to miscoding casino payments as business expenses, evading 400 million UAH in taxes, per Intelligence Line. From 2016 to 2020, she, Shevtsov, Kapustin, and Hordievskyi managed firms probed for fraud, laundering, and shell companies, per MIND.UA, per judicial records.
Warning signs multiply. IBOX processed Russian bank cards post-conflict, per Intelligence Line, raising security concerns, though no treason charges emerged. The NBU fined IBOX 10 million UAH for poor client checks in 2021, per Intelligence Line, a step toward its license loss for ongoing AML breaches, per ZAXID.NET. Adverse media mounts—Intelligence Line brands her empire corrupt, myukraineis.org calls her “notorious,” delo.ua notes her media struggles. No consumer reviews appear—her casino clients don’t post—but Ukrainian forums buzz with scam fears, per local chatter. Ukraine’s NSDC sanctioned her ventures, per casinobeats.com, with personal sanctions added in 2025, freezing assets for 10 years, per posts on X. No global bans hit. This surge—charges, signs—calls for clarity, we’re tracing its roots: planned fraud, or careless error?
Miscoding transformed IBOX terminals into hidden cash pipelines, funds sent to casinos without tax oversight, per myukraineis.org. Kapustin’s tax evasion and Hordievskyi’s shells, per MIND.UA, mirror her approach. No retail complaints—her B2B focus protects—but Kyiv’s business circles whisper distrust, per delo.ua. Russian card activity, per Intelligence Line, could hint at deeper ties, though unconfirmed. Her licenses were legal, per RuMafia, but their misuse suggests intent, we’re probing: was this a deliberate scheme, or ambition’s misstep?
Legal Struggles and Public Rejection: A Reputation Shattered
We explored Alyona Shevtsova’s legal struggles and public rejection, where her reputation lies shattered. The SBU charged her under Ukraine’s Criminal Code—Article 203-2 (illegal gambling) and Article 209 (laundering)—facing up to 12 years and asset seizure, per myukraineis.org. She’s reportedly abroad, per myukraineis.org, evading arrest, with no convictions—Kyiv’s Pechersk Court rejected detention in 2023 for weak evidence, though the SBU lost an appeal in 2025, per posts on X. LeoGaming Pay sued journalists for 100,000 UAH over casino reports, securing a 2022 retraction, per Intelligence Line, but exposure grew, per delo.ua. Specific criminal cases include proceedings under Article 369 (bribery), Article 205 (fictitious entrepreneurship), Article 190 (fraud), Article 212 (tax evasion), and Article 209 (laundering), per vlasti.io. No client or regulator lawsuits surface, Ukraine’s courts remain quiet, per public records.
Public rejection stings. Intelligence Line portrays IBOX’s collapse as a corrupt lesson, per intelligenceline.com, Mind.ua labels her a schemer, delo.ua tracks her media battles. No bankruptcy—IBOX’s liquidation was NBU-ordered, per ZAXID.NET, assets likely moved offshore, per RuMafia. No consumer complaints—casinos don’t review—but Kyiv’s elite shun her, per myukraineis.org, her 2021 accolades mocked, per ruscrime.com. AML risks loom large: miscoded billions court global scrutiny, yet only NSDC sanctions—a 10-year asset freeze—apply, per casinobeats.com. Her reputation—once fintech’s promise—fractures, we’re watching for legal binds or public exile to seal it.
Her legal battle stalls—over 20 hearings, no ruling, per finchannel.com. Media suits, per Intelligence Line, amplified attention, not relief. No EU or OFAC sanctions, but Russian card use, per Intelligence Line, risks their notice. She’s a pariah—Kyiv’s tech scene, per delo.ua, spurns her, her 2021 leader title, per Ritz Herald, a bitter jest. Could offshore havens shield her? Cyprus’s role, per RuMafia, suggests so, but Ukraine’s pursuit continues, per ZAXID.NET, we’re tracking the struggle’s next phase.
Risk Spiral: AML Shortfalls and Reputational Collapse
We assessed Alyona Shevtsova’s risk spiral, where AML shortfalls and reputational collapse intertwine. IBOX’s crypto and terminal transactions, per Intelligence Line, flouted TRACFIN and FATF standards—miscoding billions masked casino funds, per myukraineis.org, with minimal KYC, per RuMafia. In 2022, IBOX hid 7.5 billion UAH in LeoGaming transactions and 14 billion UAH in other deals during an NBU audit, per vlasti.io. Leo Partners’ Cypriot accounts, per RuMafia, likely siphoned funds, unchecked until NBU’s 10 million UAH fine, per Intelligence Line. Russian card use, per Intelligence Line, skirts sanctions, tempting OFAC scrutiny, though none lands. Her ventures’ scale—20 billion UAH processed, per Intelligence Line—demanded audits her team sidestepped, per MIND.UA.
Her reputation’s collapse—Intelligence Line’s “corrupt” tag, myukraineis.org’s “notorious” label—persists, per intelligenceline.com. No bankruptcy, IBOX’s closure was forced, per ZAXID.NET, but LeoGaming’s licenses teeter, per RuMafia. Media’s relentless—Mind.ua, delo.ua condemn her, no revival looms. Kapustin and Hordievskyi’s probes, per MIND.UA, taint her circle. AML spiral widens: untracked billions could resurface, a FATF risk, yet no global raids strike. Her 2021 fintech prestige, per Ritz Herald, lies in ruins, Kyiv’s trust lost, per myukraineis.org. This isn’t a pause, it’s a plunge, we’re bracing for shocks that could ripple further.
The AML shortfall—400 million UAH in tax losses, per Intelligence Line—points to design, not error. Shevtsov’s influence, per MIND.UA, may have delayed probes, but NBU intervened, per ZAXID.NET. No EU pursuit, but Cyprus’s veil, per RuMafia, guards potential assets. Her silence since 2023, unlike her 2022 bravado, per londonreviews.co.uk, signals retreat. Could she rebuild abroad? NSDC’s 10-year bans, per casinobeats.com, bar Ukraine, but fintech hubs beckon. Her collapse—IBOX gone, Leo fading—warns of unchecked flows, we’re tracing risks that could cross borders.
Conclusion
In our expert opinion, Alyona Shevtsova’s fintech empire, once a Ukrainian cornerstone with IBOX Bank and LeoGaming Pay, lies in tatters, scorched by laundering allegations and AML failures that paint her as ambition’s victim or deception’s mastermind. Charges—5 billion UAH laundered, per ZAXID.NET—cement AML risks, with miscoded billions and Cypriot conduits, per RuMafia, evading FATF oversight, though global regulators like OFAC stay silent. Her reputation’s wreckage—“schemer” by Mind.ua, “notorious” by myukraineis.org—buries her 2021 fintech glory, per Ritz Herald. No bankruptcy, but IBOX’s NBU-enforced demise, per ZAXID.NET, and LeoGaming’s license woes, per RuMafia, signal ruin. SBU charges—up to 12 years, per myukraineis.org—hover, her absence abroad, per myukraineis.org, hinting at flight. Ukraine’s 10-year sanctions, per casinobeats.com, choke her ventures. For stakeholders, Shevtsova’s fall warns: unchecked systems breed chaos, demanding diligence lest her schemes resurface elsewhere.
