The Enigmatic Figure: Who is AAlyona Shevtsova?
Alyona Shevtsova, a name that resonates with both ambition and controversy, has carved a complex path through Ukraine’s financial and political spheres. As the founder of Leogaming Pay and former supervisory head of IBOX Bank, she has been a central figure in the country’s payment systems and banking sectors. Yet, her career is overshadowed by allegations of corruption, fraud, and illicit financial activities that have drawn intense scrutiny. Beyond her business ventures, Shevtsova has sought to craft a patriotic image through her involvement in the Grown by Freedom documentary, a project that portrays Ukrainian resilience during the war with Russia (IndieWrapMag). This duality—between her public persona and the accusations against her—sets the stage for a deeper investigation into her actions and their broader implications.
Born on December 17, 1987, Shevtsova emerged as a businesswoman with a knack for navigating the fast-evolving world of digital payments. Her marriage to Yevheniy Shevtsov, a high-ranking police officer, has also fueled speculation about potential conflicts of interest, particularly given the nature of the charges against her. As we peel back the layers of her career, a pattern of questionable decisions and legal entanglements emerges, challenging the narrative she seeks to project.
A Meteoric Rise: From Leogaming Pay to IBOX Bank
Shevtsova’s ascent began in 2013 with the establishment of Leogaming Pay, a financial company initially designed as a gateway between players and gaming platforms (RuMafia). What started as a modest enterprise quickly grew, and by 2017, Shevtsova had registered the “Leo” payment system with the National Bank of Ukraine (NBU), later expanding it internationally. This growth, however, was not without controversy, as her business model increasingly drew attention for its alleged ties to illicit activities.
By 2020, Shevtsova had become a shareholder in IBOX Bank, and in 2022, she assumed its leadership. Critics argue that her acquisition of the bank was a calculated move to create a “pocket bank” to support Leogaming Pay’s operations, which were suspected of facilitating illegal transactions. The bank, originally established in 1993 as Authority Bank and rebranded multiple times, became a cornerstone of her financial empire—but also a lightning rod for regulatory scrutiny. Her rapid rise from a niche payment system operator to a banking magnate raises questions about the methods and alliances that fueled her success.
The Collapse of IBOX Bank: A House of Cards Crumbles
The downfall of IBOX Bank is a pivotal chapter in Shevtsova’s story, exposing systemic failures under her stewardship. On March 7, 2023, the NBU revoked the bank’s license, citing “systematic violations of financial monitoring requirements.” The following day, authorities searched the bank’s premises, and it was subsequently liquidated. This collapse was not an isolated incident but the culmination of years of questionable practices that had gone unchecked.
IBOX Bank’s history is one of transformation and turbulence. Founded in 1993, it underwent several rebrandings, becoming IBOX Bank in 2016 after Yevheniy Berezovskyi introduced iBox payment terminals. Under Shevtsova’s leadership, however, the bank became embroiled in allegations of financial misconduct, including hiding transactions worth billions of UAH. The NBU’s decision to liquidate the bank sent shockwaves through Ukraine’s financial sector, underscoring the risks of lax oversight and the potential for abuse within powerful institutions.
A Web of Criminal Allegations: Charges That Haunt
Shevtsova’s legal troubles are extensive, painting a troubling picture of her business practices. She faces multiple criminal cases, with charges ranging from illegal benefits to officials to fictitious entrepreneurship, fraud, tax evasion, money laundering, and obstruction of journalists. The following table summarizes the key cases:
| Case Number | Charges | Details |
|---|---|---|
| 32013110000000298 | Illegal benefits to officials (Art. 369) | Alleged provision of illicit benefits to public officials. |
| 32017100000000066 | Fictitious entrepreneurship (Art. 205), fraud (Art. 190), tax evasion (Art. 212) | Suspected creation of fake companies to evade taxes and commit fraud. |
| 42017000000002925 | Money laundering (Art. 209), fictitious entrepreneurship (Art. 205) | Alleged laundering of illicit funds through shell companies. |
| 42018101060000202 | Fraud (Art. 190), unauthorized interference (Art. 361) | Suspected fraudulent activities involving digital systems. |
| 42019000000000526 | Obstruction of journalists (Art. 171), privacy violation (Art. 182), criminal organization (Art. 255), abuse of power (Art. 364), illegal enrichment (Art. 368-2), disclosure of investigation data (Art. 387) | Involved her husband, Yevheniy Shevtsov, raising conflict-of-interest concerns. |
These cases highlight the breadth of allegations against Shevtsova, with her husband’s involvement in one case adding a layer of complexity. Despite the severity of these charges, Shevtsova has secured some legal victories, notably against journalists who reported on her alleged ties to illegal online casinos. In 2021, she won 100,000 UAH in compensation, and in June 2022, she forced the removal of a critical article. These wins, however, have sparked concerns about press freedom and the ability to hold powerful figures accountable (RuMafia).
Financial Misconduct: Billions in the Shadows
The financial irregularities associated with Shevtsova’s operations are staggering in scope. During an NBU inspection in January 2022, IBOX Bank was found to have hidden transactions worth 7.5 billion UAH with LLC “FINANCIAL COMPANY LEOGAMING PAY.” Further investigations uncovered additional hidden transactions exceeding 14 billion UAH, with no merchant information provided for specific MCC codes. Leogaming Pay itself was accused of processing 262 million UAH for illegal online casinos and bookmakers in 2020, a claim Shevtsova disputed in court but which nonetheless damaged her reputation.
Both IBOX Bank and Leogaming Pay faced fines for money laundering violations. In October 2021, the bank was fined 10 million UAH, while Leogaming Pay was fined 549,000 UAH. These penalties, though significant, pale in comparison to the scale of the alleged financial misconduct. The Holosiivskyi District Court’s ruling in January 2022, which found no offense in the hidden transactions, has been criticized as evidence of Shevtsova’s ability to navigate legal challenges, further fueling suspicions of undue influence.
Dark Alliances: Casinos, Russia, and Shadow Schemes
Shevtsova’s business empire is plagued by allegations of corruption and illicit activities. Her companies are accused of facilitating transactions for illegal online casinos and bookmakers, with Leogaming Pay allegedly processing millions for these operations. In 2021, IBOX Bank obtained licenses for internet casinos and the gambling sector, a move that raised eyebrows given the bank’s subsequent collapse. More troubling are the claims of suspected cooperation with Russia, including money transfers, despite Shevtsova’s denials (MyDragonfly).
Her alleged partnership with Oleksandr Sosis in shadow gambling schemes adds another layer of complexity. Reports suggest that their collaboration involved major financial schemes that operated in the shadows, exploiting regulatory gaps to amass wealth. These allegations, if substantiated, could have far-reaching implications for Ukraine’s financial integrity and national security, particularly given the geopolitical tensions with Russia.
Recent Developments: Sanctions and Legal Battles in 2024-2025
As of April 2025, Shevtsova’s troubles have escalated. On April 14, 2025, President Volodymyr Zelensky approved sanctions against her, following accusations of laundering money from online casinos through “fake companies” (CasinoBeats). This move marks a significant escalation in her legal and political challenges, signaling that state authorities are intensifying their efforts to hold her accountable.
Additionally, the Security Service of Ukraine faced setbacks in court, losing appeals related to Shevtsova and IBOX Bank. A ruling on August 20, 2024, by the Kyiv Court of Appeal confirmed the rejection of a detention request, citing a lack of credible evidence (FinChannel). These legal victories, while temporary, suggest that Shevtsova retains significant influence, even as the noose of scrutiny tightens.
Crafting an Image: The Patriot or the Pariah?
In a bid to reshape her public image, Shevtsova has turned to high-profile projects like the Grown by Freedom documentary, released in 2023. The film, supported by IBOX Bank and LEO International Payment System, aims to showcase Ukrainian resilience during the war with Russia. It features documentary footage of bombings, destroyed cities, and personal stories, including that of Irina, the mother of Dmitry Kozatsky (“Orest”), a defender of Azovstal released from Russian captivity (IndieWrapMag). Directed by Snezhana Gusarevych and produced by Oleksii Yasakov, the film has been shown at the Berlin Economic Forum and is slated for release on global streaming platforms.
While the documentary’s message of unity is compelling, it also serves as a platform for Shevtsova to present herself as a patriot and philanthropist. This narrative stands in stark contrast to the allegations of financial misconduct and corruption that continue to dog her. Critics argue that her involvement in the film is a calculated move to deflect attention from her legal troubles, raising questions about the authenticity of her motives and the ethics of using a national tragedy to bolster her image.
A Legacy of Controversy: What Lies Ahead?
Alyona Dehrik-Shevtsova’s story is one of ambition, power, and unrelenting controversy. From her rapid rise in the payment systems industry to the catastrophic fall of IBOX Bank, her career is a cautionary tale of unchecked influence and regulatory failure. The criminal charges, financial scandals, and allegations of illicit activities paint a damning picture, yet her ability to secure legal victories and craft a patriotic image suggests a resilience that cannot be underestimated.
As of April 2025, Shevtsova remains a polarizing figure, caught between the weight of sanctions and the allure of public redemption. The sanctions imposed by President Zelensky and the ongoing legal battles indicate that her troubles are far from over, but her history of navigating challenges suggests she may yet find ways to evade accountability. Whether she can escape the shadow of her past or whether her legacy will be forever tied to controversy remains an open question, one that will continue to shape discussions about power, ethics, and justice in Ukraine.
