Ihor Palytsia is a lifelong business partner and trusted person of oligarch Ihor Kolomoyskyi.

In August 2019 Ihor Palytsia was elected as MP within a single district constituency at Volyn region, where he served as a head of regional council between 2015-2019. Mr Palytsia is well known for supporting interests of oligarch Kolomoykyi in Verkhovna Rada of Ukraine, specifically he was strongly opposing so-called "Anti-kolomoyskyi law", adopted to prevent a return of nationalized Privatbank back to the oligarch.

Since Autumn 2019 Ihor Palytsia is a member of parliamentary group "For future", which in May 2020 transformed to the political party with the same name. As of mid October , 2020 "For Future" political party actively participates at local elections in Ukraine.

Ihor Palytsia and his party are heavily attacking key reforms envisioned in the memorandum of cooperation between Ukraine and the IMF. Many of these reforms, including international standards of corporate governance of state-owned enterprises, independent anticorruption agencies, independent regulation of the banking sector are also important pillars of the EU-Ukraine cooperation.

Ihor Palytsia frequently speaks at prime time at popular political TV shows of 1+1 TV channel, which is controlled by Ihor Kolomoyskyi. Ihor Palytsia spreads anti-Western rhetoric supporting pro-Kremlin messages like: "IMF wants to enslave Ukraine and treats our country like a "banana republic", "George Soros wants to ruin Ukraine and all human values", "Civil society organisations funded by Western funds are foreign agents and have to be kicked off the country", etc.

Meantime, Ihor Palytsia and his family extensively enjoy the benefits of the West: they control businesses in Austria, France and Switzerland; have at least 1 luxurious residence near Geneva.

Mr Palytsia purchases expensive clothes in France, visits restaurants in Switzerland, spends time in London hotels. Zakhar Palytsia, a 24 years old son of Ihor Palytsia was studying at a Swiss university. According to his Facebook, he visits top world boxing shows, plays golf, drives luxury cars.

From January 2020 Palytsia junior became the official partner in the oil and arms businesses of oligarch Ihor Kolomoyskyi.
The start of a trusted relationship with Kolomoyskyi. Ukrnafta
Imposing control for Ihor Kolomoyskyi over Ukrnafta, the largest state-owned oil company
Their business partnership started in 1999, when Ihor Kolomoyskyi purchased 50% shares in Maveks-L oil trading company managed and co-owned by Ihor Palytsia. In 1999-2003 Ihor Palytsia was acting head of "Naftokhimik Prykarpattya" company controlled by Ihor Kolomoyskyi.

Then in 2003 Ihor Palytsia was appointed as Head of the Board of "Ukrnafta" PJSC - the largest Ukrainian state-owned company of extracting and processing oil. This was the moment when the oligarch, who had 42% of shares in the company obtained de-facto full control over its operations and blocked the ability of the majority shareholder- the state of Ukraine - to make decisions.

In March 2015 at the hearings of the special parliamentary commission Ihor Kolomoyskyi publicly claimed that since 2003 he paid monthly $5mln (in total $110 mln) bribe to the president Kuchma through his son in law Victor Pinchuk for the right to manage Ukrnafta. According to the court registry the Kolomoyskyi attorney provided investigators with copies of documents, including an agreement as of January 1, 2003, on operational control over PJSC Ukrnafta. The agreement stated that certain persons agreed to impose control over Ukrnafta, including among other things appointment of a new person to the position of head of the board.

On January 30 allegedly to implement this agreement Ihor Palytsia became the head of the board of Ukrnafta. He significantly changed the management of the company ensuring the minority shareholders to have the actual control of the Ukrnafta operations. This gave the start of building various schemes for siphoning millions of funds from Ukrnafta in the interests of Ihor Kolomoyskyi and his related companies. Specifically, In 2004 Avias and Sentosa Oil LTD from the "Privat" group sold 560 gas stations to Ukrnafta.

In an interview to Ukrainska Pravda Ihor Palytsia claims that for his effective management of Ukrnafta Ihor Kolomoyskyi paid in 2005 to his family - wife and son - the option for the right to acquire 10% of ownership of all oil assets within Privatgroup. This includes such assets as Kremenchuk oil processing plant, Naftokhimik Prykarpattia (oil processing plant in Ivano-Frankivsk), Drohobych oil processing plant, Ukrnafta shares, gas stations, oil depots.

Mr Palytsia explained that his family enforced the option in 2011.

Meantime, Ihor Palytsia claims he has been divorced with his wife since 2002.

There are strong reasons to believe that the divorce is fictitious and used by Mr Palytsia to avoid declaring all assets he controls as the ultimate beneficial owner.
Officially declared assets
According to the annual asset declaration for 2019 Ihor Palytsia owns no real estate and transport. However:
494 676 UAH
He declared spendings on rent, which includes renting of 626,8 sq metres apartment and 5 parking slots in Kyiv from his wife Oksana Palytsia ($ 19 145), as well as offices rent in Kyiv and Lutsk.
0 cars
There are reasons to believe that Ihor Palytsia failed to declare usage of any cars, as it is strange to rent 5 parking spaces without using cars.
His father, Petro Palytsia, owns two cars MERCEDES-BENZ S 600 and MERCEDES-BENZ G 500 from 2018 and 2015 respectively. Ihor Palytsia sold MERCEDES-BENZ S 600 to his father for 350 000 UAH (app 13500 USD) in 2018. The market value of the car is about 1 mln UAH ($ 36 700) .

In September 2020, Ihor Palytsia received a flat in Lutsk (423.1 sq m) as a gift from his father. Additionally, Mr. Palytsia is registered in the flat in Bukovel ski resort town - the real estate is owned by Bukovel LLC, which is controlled by Privat group.
155 461 UAH ($ 6 016)
Mr Palytsia received super modest income from his salary as an MP for the entire 2019 year.
125 145 UAH ($ 4 845)
Most of he salary he spent on charity.
Most likely charity donations were made to his 2 charity organizations he declares with almost the same name: Charity fund of "Ihor Palytsia "Tilky Razom" and Charity fund "Fund of Ihor Palytsia "Tilky Razom".

From 2015 to 2017 Ihor Palytsia declared 1385 100 ($ 54 125) income from Khmeliov Ihor Yakovych for the "asset management". Most likely it means that Ihor Khmeliov was managing certain assets of Ihor Palytsia, which were generating regular income. However, it is not clear which assets of Ihor Palytsia were managed. Ihor Khmeliov is a beneficiary of 13 companies, which are connected to the Privat group.
1 104 943 UAH
($ 42 760)
In 2019 Ihor Palytsia declares savings in a bank account in Ukraine.
27 000 000 UAH
($ 1 044 891)
In 2019 Ihor Palytsia declares savings in hard cash.
He also declared significant spending for educational services in Switzerland in 2019 - 843 467 UAH ($ 32 641).
Suspicious 35 mln UAH ($ 1 354 489) income from the property sale to Cyprus company related to Boholiubov
The hard cash declared by Palytsia in 2019 is generated from the sale of 267 sq metres office real estate in Kyiv.

In his annual asset declaration for 2017, Ihor Palytsia reflected 35 mln UAH ($ 1 316 284) income from Cyprus-based AMERSFOOT LTD. In the interview, he told journalists that these were funds he received for the property sold in 2016. According to the asset declaration in 2016 Ihor Palytsia owned just one property - non-residential 267.8 sq m premises in Kyiv, which he acquired in May 2013 for 3.4 mln UAH ($ 425 531).

Considering the difference in the exchange rate in 2016 Ihor Palytsia sold the office for approx $5,140 per 1 sq metre, while in 2013 he acquired it for approx $1,500 per sq metre - which is about 250% profit.

According to Cyprus public registry AMERSFOOT LTD is owned by German citizen ILMAR ECKEHARD PETER STUBEN since 2014. However, the company audit report for 2016 revealed transactions with the related parties, controlled by Dan Cherniavskyi. Dan Cherniavskyi is known as a son-in-law of Hennadiy Boholiubov, a business partner of Ihor Kolomoyskyi and former beneficial owner of nationalized Privatbank. According to the AMERSFOOT LTD audit report for 2016 the company did not have enough money to pay 35 mln UAH for the Palytsia's real estate and the actual immovable property in Kyiv was not reflected in its financial statements.

These facts indicate that a transaction generating 35 mln UAH income for Ihor Palytsia from the sale of property in Kyiv to Cyprus company has signs of money laundering.
Lavish expenses
According to the annual asset declarations , Ihor Palytsia has a lavish lifestyle. His expenses are significantly higher than his official income.
383 203 UAH
($17 600)
Ihor Palytsia had 4 expensive purchases of clothes in Switzerland in 2015.
192488 UAH
($ 8800)
2 purchases of clothes in France.
664342 UAH
($ 26 000)
Ihor Palytsia rented transport in France in 2016.
≈ $10 000 per quarter
In 2016 Ihor Palytsia also started declaring spendings on education in Switzerland
In 2017 Ihor Palytsia declared spending of 10 236 000 UAH (approx $ 385 000) for transport services in Ukraine. In addition to that he spent 166 287 UAH ($6 255) for hotel services in the United Kingdom, 177 492 UAH ($6 675) for restaurants in Switzerland, 119 056 UAH ($4480) and 73432 UAH ($2760) for clothes in France, 69 623 UAH ($2 620) and 107 092 UAH ($4 027) for clothes in Switzerland.
Charity fund "Tilky razom" & a private army
Ihor Palytsia declares control over 2 charity funds with very similar names:

  • Charity fund of Charity Fund "Fund Ihorya Palytsi Tilky razom" (tax code 37751619)

  • Charity Fund "Ihorya Palytsi Tilky razom" (tax code 39833183)

He annually declares significant spendings on charity, most likely all of them go to his funds:
125 145 UAH ($4 843)
In 2019.
643 304 UAH ($23 650)
In 2018.
2 777 800 UAH ($104 470)
In 2017.
9 089 910 UAH ($355 770)
In 2016.
According to several investigations of "Chesno.org" the fund is actively used by Ihor Palytsia and now his political party "For future" in hidden bribery of voters, for example:

  • In Spring 2020 the fund was providing free 'food packages" for Lutsk dwellers as a volunteer support during the Coronavirus pandemic. Right before the Easter locals received free Easter cakes.

  • The Fund works in close cooperation with Lutsk municipality, where jointly with local authorities "Tikly razom" provided support to hospitals.

Many members of "Tilky razom" fund were hired by the local administration, some of them ended up as Members of Parliament during the 2019 elections. Specifically, former deputy head of "Tilky Razom" Iryna Konstankevych was broadly using the brand of the fund during parliamentary elections in her district. Right before the elections the fund supported reconstruction of school football fields in the district. Currently Iryna Konstankevych is MPs within the "For future" group of Ihor Palytsia.

Two out of 10 top candidates to Lutsk city council at 2020 local elections from "For future" party are current or former staffers of "Tilky razom".

The usage of charity funds for hidden bribery of voters is a wide-spread election tactique in Ukraine, as it allows to bypass requirements to publicly report about income and expenditure of election funds of politicians. In summer 2019 Ihor Palytsia reported spending 1 587 764 UAH ($ 61485) within his election fund during the parliamentary elections.

"Tilky Razom" charity fund is not providing reports about its revenues and expenditures. Journalist Iryna Musiy was trying to get access to this information through a lawsuit, however the court decision was not enforced.

Charity Fund "Tilky Razom" was also financing an armed semi-military group "Varta Poryadku", which is also known as a private army of Ihor Palytsia. The armed group had more than 500 members, who according to official information were patrolling streets in Lutsk jointly with local police. Additionally, members of the group were providing security of Volyn state administration. However, according to the slidstvo.info investigation there is evidence of the alleged attack of "Varta Poryadku" on businessman Serhiy Churikov and alleged illegal surveillance of Ihor Palytsia's political opponents. In 2017 and 2018 the Security Service of Ukraine triggered criminal investigations over activities of "Varta Poryadku", whose leaders are suspect for smuggling, intervention into private life of persons, illegal usage of special data collection devices. The Security Service of Ukraine conducted searches at offices of "Varta Poryadku", where the following devices were found and seized: pump guns "Magnum", 5 carabine guns, portable special radio stations.
TV Channels in Lutsk and Rivne
Avers TRK is a local TV channel broadcasting in Volyn region.

According to the media, in 2017 Avers TRK was bought by Kyiv-based companies "Lybid Service" which may have connections with Ihor Palytsia. The owners and beneficial owners of "Lybid Service" are Oleksandr Lutsaka, Volodymyr Korobko, Natalia Moskovka and Liudmyla Osykina. Oleksandr Lutsaka and Volodymyr Korobko are representatives of an armed semi-military group "Varta Poryadku" which was financially supported by Ihor Palytsia`s charity fund. Natalia Moskovka and Liudmyla Osykina are lawyers of Law Business Consulting. Liudmyla Osykina was also a member of the board of Kyivguma PJSK which is controlled by Kolomoiskyi and Boholiubov. During the election campaign in summer 2019 Ihor Palytsia paid almost 870 thousand UAH ($33 670) to Avers TRK for access to the broadcasting time.

On September 02, 2020, Avers TRK bought one more channel - Rivne 1 TRK.
Zakhar and Oksana Palytsia assets in Ukraine
Ihor Palytsia claims he has been divorced with his wife since 2002, however there are serious grounds to believe that their divorce is fictitious and was done to avoid declaring all assets of Oksana.

Oksana Palytsia is the official owner of luxurious real estate in Ukraine and abroad. She has shares in many lucrative companies affiliated with Ihor Kolomoyskyi.

From 2019 Oksana Palytsia rents to Ihor Palytsia a 8-room flat and 5 parking slots in Hryshevskoho street 9а downtown Kyiv. She acquired this property back in 2011. One more parking slot at the same address Oksana is most likely using herself, as on September 16, 2020 she acquired MERCEDES-BENZ V 300D, 2020 year. In addition to the luxurious car Oksana Palytsia had significant real estate purchases in 2020, specifically:
2 houses and
4 land plots

in Pliuty village in Kyiv suburbs ( July 2020).
2 land plots

in Obykhiv district of Kyiv region (September 2020).
a family cottage with 2 small land plots

in Yaremche near ski resort Bukovel (May 2020).
Jointly with son Zakhar Oksana Palytsia owns a 4-room flat in Lviv, which she bought in 2016. Since 2005 she has been an owner of a 4-room apartment in Odessa.

Finally, in 2020 Oksana Palytsia became a sole owner of two freshly established companies in UKraine: Sportyvni Karpaty LLC (registered on June 12, 2020) and Business initsiatyvy LLC (registered on September 21, 2020).

Zakhar Palytsia, a son of Ihor Palytsia, was born in April 1996. According to the linkedin profile, in 2013-2015 he was studying at International School of Geneva in Switzerland, and then between 2015-2017 at the EU Business School at the bachelor of business administration program.

From 2016 until September 2020 Ihor Palytsia is declaring significant regular spending for education services in Switzerland. Most likely, these spendings went on payment for the education of Zakhar Palytsia and probably his sister Maria or mother Oksana.

According to Ukrainian business registry Zakhar Palytsia started to get shares at various Ukrainian companies already in 2017. In January 2020 Zakhar Palytsia jointly with his mother became an official business partner of oligarch Ihor Kolomoyskyi in the oil and weapon businesses.
Oil Business
In February 2020 Zakhar and Oksana Palytsia were reported in state registry as beneficial owners of 2 large oil procession factories in Ukraine: PJSC "Naftokhimik Prykarpattya" and PJSC "NPK-Galychyna". Among other beneficial owners of these companies were listed Ihor Kolomoyskyi, Hennadiy Boholiubov, Potishman Dmytro, LEIBER URIEL TSVI, KORF MORDEKHAI YUDA, Svitlana Deli, Yevgen Krychevskyi, Yuriy Kiperman and Oleksiy Buinis.

The state has 25% of shares in both oil processing factories, while the remaining part is being co-owned by 4 BVI companies, specifically: ROMANNOR INVESTMENTS LTD, WEAVERNAL HOLDINGS LTD, DENEIRO VENTURES LTD, DOMENNIUM ENTERPRISES LTD.

PJSC "NPK-Galychyna" is being under criminal investigation in the case of alleged embezzlement of 5.5 bln USD by former beneficial owners of Privatbank. It is one of 193 related companies, which did not repay loans to Privatbank.

Moreover, Dmytro Potishman, who is listed among beneficial owners of two oil companies, is an uncle of Ihor Palytsia. Media reports that Dmytro Potishman was identified as a related party to the Privatbank and his deposit (approximately 300 000 USD) was written-off under the bail-in procedure.
Weapon Business
On January 29, 2020 there were established two new Ukrainian weapon trading companies - Rokit-M LLC and Target-M LLC. Zakhar Palytsia, Oksana Palytsia, as well as Ihor Kolomoyskyi, Hennadiy Boholiubov, Potishman Dmytro, LEIBER URIEL TSVI, KORF MORDEKHAI YUDA, Svitlana Deli, Yevgen Krychevskyi, Yuriy Kiperman and Oleksiy Buinis are listed as beneficial owners of both companies.

According to the state registry the owner of the companies is American Gray Fox International, which is affiliated with another US based Gray Fox Aviation and Logistics, Inc. The latter back in 2018 won a $16,6 mln contract to supply large calibre weapons to the state-owned "Artem" Ukrainian company. In May 2018 "Artem" wired $8.3 mln prepayment to Gray Fox Aviation and Logistics, however the weapons were never provided. The case is under investigation of the National anticorruption bureau of Ukraine.
Real Estate Business
Zakhar and Oksana Palytsia are listed as beneficial owners of 5 companies on Odesa, which are dealing with hotel and restaurant business, specifically:
All these companies have the same official address as Lesor Odesa LLC. Marengo LLC also has the same mobile phone number as Lesor Odesa LLC. The latter owns a 5 star hotel Palace Del Mar in Odesa. The ownership right for this property was obtained in 2010 through a suspicious court decision, within which municipal Odesa authorities agreed to give away to a private company a significant piece of land. In 2015 the hotel costed approximately 15 mln USD. The average price of a president room costs 20 000 UAH ($710) per night, and standard room`s price is from 5 000 UAH ($175).

According to the company registry, the beneficial owner of the "Lesor Odesa" is Michalakis Tsitsekkos, a Cypriot lawyer, who is a trusted person of Ihor Kolomoyskyi. The oligarch owns 1+1 channel through a trust agreement with Mr. Tsitsekkos.

There is a high likelihood that Hotel Palace Del Mar is also controlled by the Palytsia family in partnership with Ihor Kolomoyskyi.

Interestingly, Zakhar Palytsia, a current beneficial owner of 5 companies in Odesa, highlighted in his linkedin profile professional experience in Hotel Del Mar in Odesa, where for 2 weeks in summer 2014 he worked as a waiter.

Zakhar and Oksana Palytsia are also listed as beneficial owners of 8 companies in Kyiv dealing with real estate business, specifically:
In addition to the companies listed above Oksana Palytsia co-ownes Torgovyi dim "Liubart" LLC jointly with Petro Palytsia, the father of Ihor Palytsia.
Assets in Switzerland
Oksana Palytsia owns an apartment in Geneva suburbs, specifically at 1224 Chêne-Bougeries Avenue Pierre-Odier 34.
In 2015-2017 the real estate agency M3 built a project at the addresses Avenue Pierre-Odier 32-36, which comprises of 2 villas with 3 apartment units each. Building company Baticost presented details and visualization of the project with an area of 5220 m2.
The Swiss home of Oksana Palytsia is a luxurious apartment at the villa with underground parking, caretaker's house, swimming pool with pool house, tennis, landscaping. The entire territory of the building is hidden under the fence.

Main entrance:
At the same address there is a registered Swiss company of Zakhar Palytsia - Incotech Sarl, which was set up in July 2017.
The company has 20 000 Swiss Francs of statutory capital.
The statutory documents suggest that the company is dealing with software development, specifically computer programs and mobile applications, as well as various consultations on the field of IT.

Real estate and company in Francе
Since June 2013 Oksana Palytsia has been the owner of the White Rock company in France with a statutory capital of 1000 Euro. The head office of the company is located at Château de Buffavens - 74890 LULLY, France. This is the address of a medieval castle in the East of France close to Geneva:
According to French registry of companies White Rock is dealing with real estate business, specifically construction, acquisition of buildings, as well as their commercial use, rental and management.

According to Slidstvo.info the White Rock purchased real estate in France worth 8 996 000 Euro in late August 2013. The real estate is located in Megeve commune, which is known for the ski resort in Alpes at the East of France.
According to French register, Oksana Palytsia is registered at Quai Wilson, 45, CH-1201 Geneva in Switzerland. This is a luxurious apartment building on the lakefront in downtown Geneva.
Right nearby at the same street at Quai Wilson, 39, CH-1201 Geneva there is the apartment of Angelika Kolomoysky, the daughter of oligarch Ihor Kolomoysky.
Austrian ski resort
According to Deutsche Welle investigation, Ihor Palytsia was actively engaged in the purchase of a set of hotels and restaurants in Semmering, a ski resort village in Austrian alps. However, in public interviews Mr. Palytsia denies his engagement with this investment deal.

From May 2012 to July 2015 Ihor Palytsia was a со-owner of Austrian-based IBS Umwelt- und Verkehrstechnik Gesellschaft mbH. In 2012 the company bought Grand Hotel Panhans in Semmering ski resort. Later, in 2013 the hotel was sold to Panhans Holding Group, which is owned by a Swiss investment firm Renсo Invest AG. According to Swiss registry Renсo Invest is a company with 350 000 Swiss francs statutory capital, which is dealing with green and alternative energy investments. In 2020 Swiss Renсo Invest became a parent company of Ukrainian Renco Invest Prykarpattya LLC, which is dealing with the electricity production business.

The manager of Panhans Holding Group is Viktor Babushchak who previously worked in Ukrnafta and is known as a trusted person of Ihor Palytsia. The same Viktor Babushchak is currently a director of Renco Invest Prykarpattya LLC.

Deutsche Welle reports that oligarch Ihor Kolomoysky was behind the purchase of the properties in Semmering. Moreover, according to journalist Eugene Theise Austrian law enforcement agencies investigated these transactions for alleged money laundering. There were also raids of local Austrian police revealing illegal workers at the Panhas group hotels suggesting there might have beein evidence of human trafficking.

As of October 2020 Panhans Holding Group owns the following Austrian companies, which control hotels and restaurants in Semmering:
Partnership with Austrian politician Thomas Schellenbacher
In September 2019 Austrian politician Peter Piltz revealed court documents and witness statements about alleged payment of 10 mln Euro by Ihor Palytsia, Ihor Kolomoyskyi and Maksym Lavrynovuch to Austrian far right "Freedom Party" for the parliamentary mandate of Thomas Schellenbacher. The latter was elected as Member of National Council in Austria in 2013 under strange circumstances, where three other candidates from the party list suddenly refused from their parliamentary seats. Within the National Council Schellenbacher was heading Ukraine-Austrian parliamentary group.

Thomas Schellenbacher appears to be a close friend and partner of Ihor Palytsia. In 2007-2014 Mr. Schellenbacher had shares in the company IBS Umwelt- und Verkehrstechnik Gesellschaft mbH, which made the initial purchase of hotels in Semmering. Moreover, according to Deutsche Welle and Profil magazine, Ihor Palytsia and Viktor Babushchak were once registered at the Schellenbacher's home address in Austria.
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