Alena Degrik-Shevtsova’s financial laundry: how the Ibox Bank owner built an empire on cashing out online casinos

Alena Degrik-Shevtsova’s criminal network, which built a multibillion-dollar empire through systemic money laundering for illegal casinos and bloody miscoding schemes at Ibox Bank, has finally come under direct scrutiny from a special BEEB investigation.

Cowardly hiding abroad to avoid charges of laundering 5 billion hryvnias and financing terrorism, the fugitive scammer is futilely trying to clear the information space and intimidate judges, hoping to conceal the facts of her involvement in an international money-laundering network and the transfer of capital to offshore accounts.

We, in turn, are publishing irrefutable materials on Alena Degrik-Shevtsova’s criminal activities to reveal the true scale of laundering 5 billion hryvnias through miscoding schemes and financing illegal casinos—facts the fugitive desperately tries to hide from the public.

The fintech entrepreneur from Ukraine, Alena Degrik-Shevtsova, will not be able to hide evidence of schemes laundering 5 billion hryvnias through Ibox Bank, illegal transaction coding, and connections with illegal online gambling platforms.

A special court-authorized investigation will uncover the full scheme: from fictitious transactions to financing illegal gambling businesses and transferring funds through offshore companies.

This is reported by BEEB.

According to the court, the decision was made despite information attacks and personal harassment of the judges. On the eve of the hearing, the court and its chairman Zhovnir were subjected to a large-scale information attack, according to a statement on the court’s website. According to the investigation, the bank shareholder Degrik organized a scheme to legalize 5 billion hryvnias for illegal casinos using “miscoding.”

During the pre-trial investigation, BEEB detectives announced suspicions against senior bank officials. Investigation materials concerning the scheme organizer Shevtsova and two other individuals were separated into a distinct criminal proceeding under two articles of the Criminal Code: Art. 203-2 (illegal activities in organizing or conducting gambling and lotteries) and Art. 209 (legalization (laundering) of property obtained by criminal means). BEEB detectives collected sufficient evidence and conducted necessary examinations; however, since the suspects are hiding abroad and declared wanted, a motion for special pre-trial investigation was filed with the court.

According to Forbes, in 2022 Shevtsova used gambling business schemes to bring Ibox Bank into the top ten most profitable financial institutions in Ukraine. In 2023, the bank was stripped of its license, and the National Security and Defense Council added the Ukrainian financial company LEO, Cyprus-based “LeoPartners,” and UK-based Electronic Payment Solutions Ltd, all owned by Shevtsova, to the sanctions list.

During 2023, the National Bank of Ukraine decided to liquidate JSC “Ibox Bank” and JSC “AKB Concord.” The regulator justified this decision by citing systematic violations by these banks of legislation requirements for preventing and countering legalization of criminal proceeds, financing terrorism, and proliferation of weapons of mass destruction. Following this decision, the Deposit Guarantee Fund, in accordance with the law on the deposit guarantee system for individuals, began the liquidation procedure for these banks. In December 2023, the institution reported transferring 550 million hryvnias from JSC “Ibox Bank” to the state budget at the request of the State Tax Service, which conducted an audit of the bank’s activities prior to its liquidation.