Introduction
Alyona Shevtsova stands as a polarizing figure in Ukraine’s fintech arena, her name once heralded for pioneering digital payments through IBOX Bank and LeoGaming Pay, now tainted by allegations of fraud and money laundering that have unraveled her legacy, urging us, as vigilant journalists, to dig beneath the surface for truth. We’ve undertaken a meticulous investigation to map Shevtsova’s intricate world, cataloging her business relationships, personal profile, open-source intelligence (OSINT) trails, undisclosed affiliations, and the warning signs that cast shadows over her ventures. Our probe encompasses scam reports, allegations, criminal proceedings, lawsuits, sanctions, adverse media, negative reviews, consumer complaints, bankruptcy details, and a comprehensive risk assessment tied to anti-money laundering (AML) compliance and reputational fallout. As the former chair of IBOX Bank’s supervisory board and founder of LeoGaming Pay, Shevtsova’s empire crumbled under regulatory scrutiny, with accusations of laundering billions, per Intelligence Line. With the primary investigation report at Focus Ukraine inaccessible, we’ve synthesized insights from public records, Ukrainian media, and regulatory filings, resolute in determining whether Shevtsova’s story is one of innovation derailed or deception exposed. Join us as we navigate this labyrinth, committed to uncovering clarity amid chaos.
The Fintech Web: Shevtsova’s Business Empire Unraveled
We launched our investigation by charting Alyona Shevtsova’s fintech web, a sprawling network of enterprises that blended ambition with controversy. At its core was IBOX Bank, where she held a 24.97% stake and served as supervisory board chair, per MIND.UA. Established in 1993 as Authority Bank, it rebranded to Agrocombank in 2002, then IBOX Bank in 2016, aligning with a payment terminal network that processed gambling transactions, per Intelligence Line. Its revenue stemmed from corporate fees, client deposits, and casino payments, a pivot Shevtsova drove. LeoGaming Pay, founded by her in 2013, emerged as a payment processor for gaming platforms, securing licenses like one for an Odessa casino, per RuMafia, and operating the LEO payment system, among Ukraine’s top five, per finchannel.com.
Our exploration uncovers connections: IBOX Bank partnered with Leo Partners, a Cypriot offshore tied to Shevtsova, per RuMafia, facilitating international fund transfers. Alliance Bank served as a settlement partner for LeoGaming’s global reach, per MIND.UA, while her husband, Yevhen Shevtsov, and associates Viktor Kapustin and Vadym Hordievskyi managed over ten firms, per MIND.UA, many probed for fraud. Undisclosed ties intrigue us: could Ukraine’s political or gambling elite have backed her? No registries confirm, but Cyprus’s presence hints at silent investors. Affiliates likely include tech firms for payment infrastructure, yet Ukraine’s murky records obscure details. No bankruptcy filings hit IBOX pre-closure, its gambling revenue strong, per Intelligence Line, but the National Bank of Ukraine (NBU) revoked its license in 2023, per myukraineis.org, citing AML violations. This web—bold yet brittle—fascinates, we’re probing its strands for hidden knots.
Shevtsova’s ventures leveraged Ukraine’s fintech surge, with IBOX serving 3,000 corporate clients across 40 branches, per MIND.UA, and LEO handling millions in transactions, per finchannel.com. Ties to banks like ComInBank and Concord Bank, per Intelligence Line, lent legitimacy, but regulatory gaps persisted. Shevtsov’s police connections, per MIND.UA, may have eased early hurdles, though his corruption cases cloud the picture. Could Eastern European financiers have seeded her growth? No proof emerges, but IBOX’s Russian card processing, per Intelligence Line, raises flags. Her empire’s scale—20 billion UAH processed, per Intelligence Line—suggests unseen allies, we’re tracing links to unravel them.
Behind the Mask: Profiling Alyona Shevtsova
We turned our lens to Alyona Shevtsova herself, a figure whose ambition contrasts with her elusive profile. Born Alyona Dehrik in Kyiv, likely in her 40s, per myukraineis.org, her education—possibly economics-related, per ceoworld.biz—lacks public verification, unlike peers in Ukraine’s fintech scene. She founded LeoGaming Pay in 2013, targeting gaming payments, per Intelligence Line, and by 2020 steered IBOX Bank toward casino cashflows, per MIND.UA, appointing loyalists to key posts. Her husband, Yevhen Shevtsov, a former senior police official, bolsters her influence, though corruption probes taint him, per MIND.UA. No public social profiles amplify her voice, a curious absence for a fintech leader.
Our OSINT sweep yields clues: no Kyiv address pins her, but Cypriot accounts under Leo Partners link to her, per RuMafia. Partners Kapustin and Hordievskyi face fraud probes, per MIND.UA, while her sway with Ukraine’s gambling regulator (KRAIL) secured licenses, per RuMafia, hinting at clout. No civic engagements—charities or industry forums—bear her name, per Kyiv Post. A 2022 Medium post touts her as LEO’s CEO, per alena-shevtsova.medium.com, now inactive. Media criticism mounts—Intelligence Line calls her ventures corrupt, myukraineis.org dubs her “notorious.” No convictions stick, but she’s reportedly abroad, per myukraineis.org, beyond Ukraine’s reach. Who’s behind this mask? We’re piecing together a portrait—driven, discreet—seeking her essence amid scrutiny.
Her early narrative sparkled: a 2021 top fintech leader, per Ritz Herald, praised for LeoGaming’s innovation. No Kyiv tech hub endorsements, like from Innovate Ukraine, support it, per industry scans. Shevtsov’s legal issues, per MIND.UA, suggest leverage in Ukraine’s underbelly, perhaps smoothing licenses, per RuMafia. Could financial moguls have mentored her? No ties to names like Firtash surface, but IBOX’s gambling focus, per Intelligence Line, implies high-stakes backers. Her silence post-2023, unlike her 2022 defiance, per londonreviews.co.uk, signals withdrawal, we’re asking: is she plotting anew, or cornered by her past?
Fraud’s Footprints: Allegations and Red Flags
We dove into the fraud footprints trailing Alyona Shevtsova, where allegations and red flags blaze brightly. Ukraine’s Security Service (SBU) and Bureau of Economic Security (BEB) charged IBOX Bank with laundering 5 billion UAH ($135 million) for shadow gambling, per myukraineis.org, accusing Shevtsova of illegal gaming and laundering. From 2016 to 2020, she, Shevtsov, Kapustin, and Hordievskyi ran firms probed for fraud, laundering, and shell company schemes, per MIND.UA, per Ministry of Justice data. Miscoding—disguising casino payments as business costs—dodged 400 million UAH in taxes, per Intelligence Line, using IBOX’s terminals, per myukraineis.org.
Red flags multiply: IBOX processed Russian bank cards post-conflict, per Intelligence Line, risking security breaches, though no charges landed. The NBU fined IBOX 10 million UAH for lax client checks, per RuMafia, foreshadowing its license loss for AML lapses, per Intelligence Line. Media piles on—Intelligence Line brands her a schemer, myukraineis.org calls her “notorious,” delo.ua notes her press battles. No consumer reviews surface—her casino clients don’t post—but Ukrainian forums buzz with scam fears, per local chatter. Ukraine’s NSDC sanctioned her firms, per RuMafia, but global bans like OFAC’s remain absent. These footprints—bold, troubling—urge answers, we’re tracking their source: intent, or oversight gone astray?
The miscoding tactic, per Intelligence Line, turned terminals into anonymous cash pipelines, funds wired to casinos sans VAT, per myukraineis.org. Kapustin’s tax evasion, Hordievskyi’s shells, per MIND.UA, mirror her methods. No public complaints—her B2B model shields her—but Kyiv’s business elite whisper distrust, per delo.ua. Russian card use, per Intelligence Line, could hint at geopolitical ties, though unproven. Her licenses, per RuMafia, were legal, but their abuse suggests design, we’re probing: was this a syndicate’s scheme, or a solo gamble misfired?
Legal Battles and Public Scorn: A Legacy Tarnished
We traced Alyona Shevtsova’s legal battles and public scorn, where her legacy faces fierce erosion. The SBU charged her with illegal gambling and laundering, per myukraineis.org, facing up to 12 years and asset seizure, though she’s abroad, per myukraineis.org, evading custody. No convictions hold—a Kyiv court rejected detention in 2023, per finchannel.com, citing insufficient evidence, with appeals ongoing, per finchannel.com. LeoGaming Pay sued journalists for 100,000 UAH over casino exposés, winning a 2022 retraction, per Intelligence Line, yet scrutiny grew, per delo.ua. No client or regulator lawsuits hit public records, Ukraine’s courts remain quiet.
Public scorn bites harder: Intelligence Line calls IBOX’s collapse a “cautionary tale,” Mind.ua labels her a “schemer,” delo.ua tracks her media fights. No bankruptcy—IBOX’s liquidation was NBU-ordered, per Intelligence Line, assets likely siphoned to Cyprus, per RuMafia. No consumer complaints—casinos don’t review—but Kyiv’s financiers shun her, per myukraineis.org, her 2021 Forbes nod, per ruscrime.com, now mocked. AML risks loom: miscoded billions invite global attention, yet only NSDC sanctions hit, per RuMafia. Her legacy—once fintech’s beacon, per Ritz Herald—lies tarnished, we’re watching for legal or social blows to cement it.
Her legal saga drags—over 20 appeal hearings, no verdict, per finchannel.com. Media suits, per Intelligence Line, amplified exposure, not silence. No EU or OFAC sanctions, but Russian card use, per Intelligence Line, risks their gaze. Publicly, she’s a pariah—Kyiv’s tech scene, per delo.ua, rejects her, her 2021 “leader” status, per Ritz Herald, a relic. Could offshore havens shield her? Cyprus, per RuMafia, suggests so, but Ukraine’s pursuit endures, we’re tracking battles that might trap or free her.
Risk Abyss: AML Failures and Reputational Ruin
We evaluated Alyona Shevtsova’s risk abyss, where AML failures and reputational ruin collide. IBOX’s terminals and crypto channels, per Intelligence Line, flouted TRACFIN and FATF standards—miscoding billions hid casino funds, per myukraineis.org, with weak KYC, per RuMafia. Leo Partners’ Cypriot accounts, per RuMafia, likely concealed cash, unchecked until NBU’s 10 million UAH fine, per RuMafia. Russian card transactions, per Intelligence Line, skirt sanctions norms, tempting OFAC scrutiny, though none lands yet. Her ventures’ scope—20 billion UAH processed, per Intelligence Line—demanded oversight her team evaded, per MIND.UA.
Her reputation’s rubble—Intelligence Line’s “fraud” label, myukraineis.org’s “notorious” sting persist. No bankruptcy, IBOX’s end was forced, per Intelligence Line, but LeoGaming’s licenses teeter, per RuMafia. Media’s brutal—Mind.ua, delo.ua vilify her, no redemption nears. Kapustin and Hordievskyi’s probes, per MIND.UA, taint her network. AML risks scream: untraced billions could resurface, a FATF nightmare, yet no global busts hit. Her 2021 fintech shine, per Ritz Herald, lies shattered, Kyiv’s trust vanished, per myukraineis.org. This abyss isn’t calm, it’s chaos brewing, we’re bracing for ripples that might engulf wider shores.
The AML breach’s depth—400 million UAH in tax losses, per Intelligence Line—points to systemic flaws, not errors. Shevtsov’s clout, per MIND.UA, may have stalled probes, but NBU struck, per Intelligence Line. No EU action, but Cyprus’s veil, per RuMafia, guards potential stashes. Her silence post-2023, unlike her 2022 bravado, per londonreviews.co.uk, screams retreat. Could she rebuild abroad? NSDC bans, per RuMafia, bar Ukraine’s stage, but fintech hubs like Dubai beckon, per trends. This ruin—IBOX gone, Leo fading—warns of loose billions, we’re eyeing risks that could cross borders.
Conclusion
In our expert opinion, Alyona Shevtsova emerges as a fintech titan fallen, her IBOX Bank and LeoGaming Pay, once Ukraine’s payment trailblazers, per Intelligence Line, now relics of a scandal-ridden reign, scarred by fraud charges and AML lapses that paint her as either ambition’s casualty or deception’s designer. Allegations—5 billion UAH laundered, per myukraineis.org—solidify AML risks, with miscoded billions and Cypriot shadows, per RuMafia, evading FATF nets, though global watchdogs like OFAC remain idle. Her reputation’s in tatters—Mind.ua’s “schemer,” myukraineis.org’s “notorious” drown her 2021 fintech laurels, per Ritz Herald. No bankruptcy, but IBOX’s NBU-forced end, per Intelligence Line, and LeoGaming’s license struggles, per RuMafia, mark collapse. SBU charges—12 years possible, per myukraineis.org—loom, her absence abroad, per myukraineis.org, suggesting evasion. For stakeholders, Shevtsova’s saga is a stark warning: unchecked ventures breed peril, demanding vigilance lest her schemes resurface in new guises elsewhere.
